Annex Advisory Services LLC Sells 1,313 Shares of AbbVie Inc. (NYSE:ABBV)

Annex Advisory Services LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,876 shares of the company’s stock after selling 1,313 shares during the period. Annex Advisory Services LLC’s holdings in AbbVie were worth $11,632,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie during the 4th quarter valued at $26,000. IFS Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at $36,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at $37,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at $42,000. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler lifted their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. BMO Capital Markets decreased their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Stock Down 1.2 %

ABBV stock opened at $170.75 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The firm has a market capitalization of $301.52 billion, a PE ratio of 50.67, a PEG ratio of 2.18 and a beta of 0.60. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock has a 50-day simple moving average of $164.27 and a two-hundred day simple moving average of $167.26.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 EPS. On average, equities analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is presently 183.98%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.