Epiq Partners LLC Sells 13,827 Shares of AbbVie Inc. (NYSE:ABBV)

Epiq Partners LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 78.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,753 shares of the company’s stock after selling 13,827 shares during the period. Epiq Partners LLC’s holdings in AbbVie were worth $683,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie in the fourth quarter worth about $26,000. IFS Advisors LLC bought a new stake in AbbVie during the first quarter worth about $36,000. Able Wealth Management LLC bought a new stake in AbbVie during the fourth quarter worth about $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie during the fourth quarter worth about $37,000. Finally, Clarity Asset Management Inc. bought a new stake in AbbVie during the fourth quarter worth about $42,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 1.3 %

ABBV opened at $168.99 on Friday. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a market capitalization of $298.41 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 2.19 and a beta of 0.60. The company’s 50 day moving average price is $164.41 and its two-hundred day moving average price is $167.29.

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

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.67%. AbbVie’s payout ratio is presently 183.98%.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. Barclays decreased their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Piper Sandler increased their price objective on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus 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.