AbbVie Inc. (NYSE:ABBV) Stake Lessened by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 3.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,784 shares of the company’s stock after selling 2,296 shares during the period. Dynamic Advisor Solutions LLC’s holdings in AbbVie were worth $11,797,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie in the 4th quarter valued at about $26,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $33,000. IFS Advisors LLC purchased a new stake in shares of AbbVie in the first quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. bought a new position in AbbVie during the fourth quarter valued at approximately $42,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $170.75 on Wednesday. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The company has a market capitalization of $301.52 billion, a price-to-earnings ratio of 50.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60. The business has a 50-day moving average of $164.27 and a 200-day moving average of $167.26.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter last year, the firm posted $2.46 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.63%. AbbVie’s payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. 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. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Piper Sandler lifted their price target on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.64.

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.