Sawyer & Company Inc Sells 320 Shares of AbbVie Inc. (NYSE:ABBV)

Sawyer & Company Inc lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 17,133 shares of the company’s stock after selling 320 shares during the period. Sawyer & Company Inc’s holdings in AbbVie were worth $3,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Atwater Malick LLC raised its holdings in AbbVie by 65.6% in the 1st quarter. Atwater Malick LLC now owns 2,764 shares of the company’s stock worth $503,000 after acquiring an additional 1,095 shares during the period. AMF Tjanstepension AB increased its holdings in shares of AbbVie by 8.2% during the 1st quarter. AMF Tjanstepension AB now owns 294,444 shares of the company’s stock worth $53,618,000 after purchasing an additional 22,200 shares during the period. Ameliora Wealth Management Ltd. increased its holdings in shares of AbbVie by 142.9% during the 1st quarter. Ameliora Wealth Management Ltd. now owns 1,700 shares of the company’s stock worth $310,000 after purchasing an additional 1,000 shares during the period. Sendero Wealth Management LLC increased its holdings in shares of AbbVie by 0.8% during the 1st quarter. Sendero Wealth Management LLC now owns 8,452 shares of the company’s stock worth $1,539,000 after purchasing an additional 66 shares during the period. Finally, Capital Asset Advisory Services LLC increased its holdings in shares of AbbVie by 6.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 18,701 shares of the company’s stock worth $3,179,000 after purchasing an additional 1,108 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABBV. Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler boosted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Finally, Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Price Performance

NYSE:ABBV opened at $171.52 on Friday. The firm has a market cap of $302.88 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. AbbVie Inc. has a 12 month low of $132.13 and a 12 month 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. The company’s 50-day moving average price is $164.60 and its two-hundred day moving average price is $167.54.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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 firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts anticipate 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. Stockholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.61%. AbbVie’s payout ratio is 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.