AbbVie Inc. (NYSE:ABBV) Stock Position Lowered by Monument Capital Management

Monument Capital Management lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,472 shares of the company’s stock after selling 80 shares during the quarter. Monument Capital Management’s holdings in AbbVie were worth $1,179,000 as of its most recent filing with the SEC.

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

AbbVie Stock Performance

NYSE:ABBV opened at $163.84 on Thursday. AbbVie Inc. has a 1 year low of $132.70 and a 1 year high of $182.89. The firm’s fifty day simple moving average is $164.58 and its 200 day simple moving average is $167.82. 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 firm has a market capitalization of $289.32 billion, a PE ratio of 48.62, a PEG ratio of 2.19 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (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 business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the business posted $2.46 EPS. AbbVie’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.78%. AbbVie’s dividend payout ratio is 183.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Wednesday. Barclays dropped their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Finally, Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.