Buckingham Capital Management Inc. Sells 94 Shares of AbbVie Inc. (NYSE:ABBV)

Buckingham Capital Management Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,221 shares of the company’s stock after selling 94 shares during the quarter. Buckingham Capital Management Inc.’s holdings in AbbVie were worth $222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $3,229,888,000. International Assets Investment Management LLC bought a new position in AbbVie during the fourth quarter worth about $499,955,000. Capital International Investors lifted its holdings in AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after acquiring an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in AbbVie by 39.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after acquiring an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Thursday. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Piper Sandler raised 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. BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $170.39 on Friday. The stock has a market capitalization of $300.89 billion, a PE ratio of 50.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The stock has a 50 day moving average price of $163.89 and a 200 day moving average price of $166.79. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 company 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 EPS. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is presently 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.