Radnor Capital Management LLC Sells 2,591 Shares of AbbVie Inc. (NYSE:ABBV)

Radnor Capital Management LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 25,094 shares of the company’s stock after selling 2,591 shares during the quarter. AbbVie comprises about 0.8% of Radnor Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Radnor Capital Management LLC’s holdings in AbbVie were worth $4,570,000 as of its most recent filing with the SEC.

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

AbbVie Stock Performance

Shares of ABBV stock opened at $170.38 on Monday. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The firm has a market capitalization of $300.87 billion, a PE ratio of 50.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. The firm has a fifty day simple moving average of $163.89 and a two-hundred day simple moving average of $166.93. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during 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 company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 earnings per share. Analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

A number of brokerages have recently commented on ABBV. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Thursday. Piper Sandler increased their target price on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Guggenheim boosted their price target 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. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.64.

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.