Dash Acquisitions Inc. Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Dash Acquisitions Inc. cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 25.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,879 shares of the company’s stock after selling 971 shares during the period. Dash Acquisitions Inc.’s holdings in AbbVie were worth $524,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $26,000. Able Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter valued at about $33,000. IFS Advisors LLC acquired a new stake in AbbVie in the 1st quarter valued at about $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie in the 4th quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $165.97 on Wednesday. The company has a market cap of $293.08 billion, a P/E ratio of 49.25, a P/E/G ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a 1-year low of $132.70 and a 1-year 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 stock has a 50-day moving average of $164.65 and a two-hundred day moving average of $167.74.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the prior year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 11.27 EPS 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 issued 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 3.74%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays cut their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Finally, Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

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.