Paragon Capital Management Ltd Sells 443 Shares of AbbVie Inc. (NYSE:ABBV)

Paragon Capital Management Ltd cut its holdings in AbbVie Inc. (NYSE:ABBV) by 5.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,923 shares of the company’s stock after selling 443 shares during the period. Paragon Capital Management Ltd’s holdings in AbbVie were worth $1,443,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Personal CFO Solutions LLC boosted its holdings in shares of AbbVie by 8.4% in the 3rd quarter. Personal CFO Solutions LLC now owns 6,289 shares of the company’s stock valued at $938,000 after buying an additional 485 shares during the last quarter. Asset Dedication LLC lifted its stake in AbbVie by 8.4% in the third quarter. Asset Dedication LLC now owns 14,395 shares of the company’s stock valued at $2,146,000 after acquiring an additional 1,120 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of AbbVie by 43.3% in the 3rd quarter. Natixis Advisors L.P. now owns 904,900 shares of the company’s stock valued at $134,884,000 after acquiring an additional 273,282 shares during the period. Consolidated Portfolio Review Corp increased its stake in shares of AbbVie by 3.4% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 3,247 shares of the company’s stock worth $484,000 after purchasing an additional 106 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its holdings in shares of AbbVie by 0.7% in the 3rd quarter. Providence Capital Advisors LLC now owns 16,237 shares of the company’s stock valued at $2,420,000 after purchasing an additional 106 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABBV. Piper Sandler boosted their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Barclays dropped 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. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Stock Down 1.0 %

Shares of ABBV opened at $170.39 on Monday. The firm has a 50 day simple moving average of $163.89 and a two-hundred day simple moving average of $166.93. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a market cap of $300.89 billion, a P/E ratio of 50.56, a P/E/G ratio of 2.20 and a beta of 0.60.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. Research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a 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.