Franklin Street Advisors Inc. NC Has $34.38 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Franklin Street Advisors Inc. NC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 188,795 shares of the company’s stock after selling 2,969 shares during the period. AbbVie accounts for approximately 2.5% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 11th biggest position. Franklin Street Advisors Inc. NC’s holdings in AbbVie were worth $34,380,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABBV. American National Bank lifted its position in shares of AbbVie by 4.8% during the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares in the last quarter. AXS Investments LLC grew its stake in AbbVie by 3.3% in the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after purchasing an additional 165 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of AbbVie by 33.4% in the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after buying an additional 7,737 shares during the last quarter. Finally, Amplius Wealth Advisors LLC increased its holdings in AbbVie by 17.6% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after buying an additional 400 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Thursday, June 20th. Piper Sandler increased their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Trading Down 1.3 %

NYSE:ABBV opened at $168.99 on Friday. The company has a 50-day moving average price of $164.41 and a 200-day moving average price of $167.29. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a market cap of $298.41 billion, a price-to-earnings ratio of 50.15, a P/E/G ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

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

AbbVie Announces Dividend

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

AbbVie Company Profile

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.