AbbVie Inc. (NYSE:ABBV) Shares Sold by Janiczek Wealth Management LLC

Janiczek Wealth Management LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 20.9% during the first quarter, HoldingsChannel.com reports. The firm owned 1,765 shares of the company’s stock after selling 466 shares during the period. Janiczek Wealth Management LLC’s holdings in AbbVie were worth $321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie in the fourth quarter valued at $26,000. IFS Advisors LLC bought a new stake in shares of AbbVie in the 1st quarter worth about $36,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of AbbVie during the fourth quarter worth about $37,000. Finally, Clarity Asset Management Inc. acquired a new position in AbbVie in the fourth quarter worth about $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $168.99 on Friday. The firm has a market capitalization of $298.41 billion, a PE ratio of 50.15, a P/E/G ratio of 2.19 and a beta of 0.60. 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 50-day moving average price of $164.41 and a 200 day moving average price of $167.29. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

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

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analyst Ratings Changes

Several brokerages have issued reports on ABBV. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, June 5th. Piper Sandler lifted their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Finally, BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.64.

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.