AbbVie Inc. (NYSE:ABBV) Shares Sold by Cambridge Advisors Inc.

Cambridge Advisors Inc. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,775 shares of the company’s stock after selling 600 shares during the quarter. Cambridge Advisors Inc.’s holdings in AbbVie were worth $1,598,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Atwater Malick LLC increased its stake in AbbVie by 65.6% in the first quarter. Atwater Malick LLC now owns 2,764 shares of the company’s stock valued at $503,000 after purchasing an additional 1,095 shares during the period. AMF Tjanstepension AB boosted its holdings in shares of AbbVie by 8.2% in the first quarter. AMF Tjanstepension AB now owns 294,444 shares of the company’s stock valued at $53,618,000 after acquiring an additional 22,200 shares in the last quarter. Ameliora Wealth Management Ltd. boosted its holdings in shares of AbbVie by 142.9% in the first quarter. Ameliora Wealth Management Ltd. now owns 1,700 shares of the company’s stock valued at $310,000 after acquiring an additional 1,000 shares in the last quarter. Sendero Wealth Management LLC boosted its holdings in shares of AbbVie by 0.8% in the first quarter. Sendero Wealth Management LLC now owns 8,452 shares of the company’s stock valued at $1,539,000 after acquiring an additional 66 shares in the last quarter. Finally, Capital Asset Advisory Services LLC boosted its holdings in shares of AbbVie by 6.3% in the first quarter. Capital Asset Advisory Services LLC now owns 18,701 shares of the company’s stock valued at $3,179,000 after acquiring an additional 1,108 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 1.5 %

Shares of NYSE ABBV opened at $171.52 on Friday. AbbVie Inc. has a 12-month low of $132.13 and a 12-month high of $182.89. The company has a market capitalization of $302.88 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. 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 firm’s 50-day moving average is $164.60 and its two-hundred day moving average is $167.54.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results 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 company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BMO Capital Markets lowered their target price 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. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Piper Sandler boosted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.