AbbVie Inc. (NYSE:ABBV) Shares Sold by Calton & Associates Inc.

Calton & Associates Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 19.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,987 shares of the company’s stock after selling 979 shares during the quarter. Calton & Associates Inc.’s holdings in AbbVie were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler upped their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Finally, Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” 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 given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Price Performance

NYSE:ABBV opened at $171.52 on Friday. The business’s 50-day moving average price is $164.60 and its 200 day moving average price is $167.44. The firm has a market cap of $302.88 billion, a P/E ratio of 50.90, a PEG ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a 52-week low of $132.13 and a 52-week high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for 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%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.61%. AbbVie’s dividend payout ratio is currently 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.