First Dallas Securities Inc. Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

First Dallas Securities Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 5.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,875 shares of the company’s stock after selling 1,101 shares during the quarter. AbbVie accounts for about 1.6% of First Dallas Securities Inc.’s investment portfolio, making the stock its 13th largest position. First Dallas Securities Inc.’s holdings in AbbVie were worth $3,437,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ABBV. Occidental Asset Management LLC increased its position in AbbVie by 14.5% in the first quarter. Occidental Asset Management LLC now owns 7,336 shares of the company’s stock worth $1,336,000 after buying an additional 927 shares in the last quarter. Avity Investment Management Inc. lifted its position in shares of AbbVie by 5.2% during the 1st quarter. Avity Investment Management Inc. now owns 3,448 shares of the company’s stock valued at $628,000 after buying an additional 170 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of AbbVie by 35.5% during the 1st quarter. Independence Bank of Kentucky now owns 15,627 shares of the company’s stock valued at $2,846,000 after acquiring an additional 4,097 shares during the period. Fidelity D & D Bancorp Inc. increased its holdings in AbbVie by 2.2% in the 1st quarter. Fidelity D & D Bancorp Inc. now owns 3,426 shares of the company’s stock worth $624,000 after acquiring an additional 74 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. raised its stake in AbbVie by 1.1% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,265 shares of the company’s stock worth $1,141,000 after acquiring an additional 70 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ABBV shares. BMO Capital Markets dropped their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Piper Sandler boosted their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Trading Up 1.5 %

Shares of ABBV opened at $171.52 on Friday. AbbVie Inc. has a fifty-two week low of $132.13 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company’s fifty day moving average is $164.60 and its 200 day moving average is $167.54. The stock has a market capitalization of $302.88 billion, a PE ratio of 50.90, a P/E/G ratio of 2.16 and a beta of 0.60.

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

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued 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 (DPR) is 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.