AbbVie Inc. (NYSE:ABBV) Shares Sold by LongView Wealth Management

LongView Wealth Management reduced its position in AbbVie Inc. (NYSE:ABBV) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,042 shares of the company’s stock after selling 660 shares during the quarter. LongView Wealth Management’s holdings in AbbVie were worth $1,282,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Capital Asset Advisory Services LLC boosted its stake in shares of AbbVie by 6.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 18,701 shares of the company’s stock valued at $3,179,000 after buying an additional 1,108 shares during the period. Artemis Investment Management LLP boosted its stake in shares of AbbVie by 3.4% in the 1st quarter. Artemis Investment Management LLP now owns 452,653 shares of the company’s stock valued at $82,384,000 after buying an additional 14,963 shares during the period. Indiana Trust & Investment Management CO boosted its stake in shares of AbbVie by 1.2% in the 1st quarter. Indiana Trust & Investment Management CO now owns 11,623 shares of the company’s stock valued at $2,117,000 after buying an additional 139 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of AbbVie by 26.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 31,143 shares of the company’s stock valued at $5,671,000 after buying an additional 6,509 shares during the period. Finally, Hennessy Advisors Inc. boosted its stake in shares of AbbVie by 3.6% in the 1st quarter. Hennessy Advisors Inc. now owns 31,900 shares of the company’s stock valued at $5,809,000 after buying an additional 1,100 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 1.5 %

NYSE:ABBV opened at $171.52 on Friday. The company has a market cap of $302.88 billion, a PE ratio of 50.90, a P/E/G ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a 52 week low of $132.13 and a 52 week high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The business’s 50 day moving average is $164.60 and its two-hundred day moving average is $167.44.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $11.93 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 yield of 3.61%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABBV. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. HSBC upgraded 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. Piper Sandler boosted their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $179.64.

About AbbVie

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.