AbbVie Inc. (NYSE:ABBV) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,626 shares of the company’s stock after selling 466 shares during the quarter. AbbVie comprises about 0.8% of Dumont & Blake Investment Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Dumont & Blake Investment Advisors LLC’s holdings in AbbVie were worth $2,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Red Door Wealth Management LLC lifted its holdings in AbbVie by 20.9% in the first quarter. Red Door Wealth Management LLC now owns 10,284 shares of the company’s stock worth $1,873,000 after purchasing an additional 1,777 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in AbbVie by 128.9% in the first quarter. Cornerstone Wealth Group LLC now owns 66,073 shares of the company’s stock worth $12,032,000 after purchasing an additional 37,203 shares during the period. New Mexico Educational Retirement Board lifted its holdings in AbbVie by 12.0% in the first quarter. New Mexico Educational Retirement Board now owns 102,755 shares of the company’s stock worth $18,712,000 after purchasing an additional 11,000 shares during the period. Winthrop Advisory Group LLC lifted its holdings in AbbVie by 2.2% in the first quarter. Winthrop Advisory Group LLC now owns 3,582 shares of the company’s stock worth $652,000 after purchasing an additional 78 shares during the period. Finally, First Bank & Trust lifted its holdings in AbbVie by 3.8% in the first quarter. First Bank & Trust now owns 18,806 shares of the company’s stock worth $3,425,000 after purchasing an additional 681 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ABBV shares. Guggenheim upped 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. Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Piper Sandler upped their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Two 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Price Performance

Shares of ABBV opened at $171.52 on Monday. The company has a market capitalization of $302.88 billion, a price-to-earnings ratio of 50.90, a P/E/G ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a fifty-two week low of $132.13 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 business’s 50-day moving average is $164.60 and its 200-day moving average is $167.63.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.55 dividend. 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 3.61%. AbbVie’s dividend payout ratio is 183.98%.

AbbVie 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.