AbbVie Inc. (NYSE:ABBV) Shares Sold by Baker Boyer National Bank

Baker Boyer National Bank decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 11.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,684 shares of the company’s stock after selling 210 shares during the quarter. Baker Boyer National Bank’s holdings in AbbVie were worth $307,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABBV shares. HSBC raised 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. Barclays lowered their target price 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. Guggenheim raised 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. Piper Sandler upped their price objective on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Finally, BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Price Performance

NYSE:ABBV opened at $172.75 on Tuesday. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The stock’s fifty day moving average is $164.11 and its two-hundred day moving average is $167.11. The company has a market capitalization of $305.05 billion, a P/E ratio of 51.26, a P/E/G ratio of 2.20 and a beta of 0.60. The company has a quick ratio of 0.83, a current ratio of 0.94 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. Equities analysts expect that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.59%. AbbVie’s payout ratio is currently 183.98%.

AbbVie Company 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.