Tsfg LLC Decreases Position in AbbVie Inc. (NYSE:ABBV)

Tsfg LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 15.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,497 shares of the company’s stock after selling 18,924 shares during the period. AbbVie accounts for 4.9% of Tsfg LLC’s portfolio, making the stock its 4th largest holding. Tsfg LLC’s holdings in AbbVie were worth $19,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. AMF Tjanstepension AB grew its holdings in AbbVie by 8.2% during the 1st quarter. AMF Tjanstepension AB now owns 294,444 shares of the company’s stock worth $53,618,000 after acquiring an additional 22,200 shares during the last quarter. Ameliora Wealth Management Ltd. increased 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 purchasing an additional 1,000 shares in the last quarter. Sendero Wealth Management LLC increased 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 purchasing an additional 66 shares in the last quarter. Capital Asset Advisory Services LLC raised its position in AbbVie by 6.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 18,701 shares of the company’s stock worth $3,179,000 after purchasing an additional 1,108 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its holdings in AbbVie by 3.4% during the 1st quarter. Artemis Investment Management LLP now owns 452,653 shares of the company’s stock worth $82,384,000 after buying an additional 14,963 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on ABBV. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Wednesday, June 5th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Piper Sandler increased their price objective on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, Barclays lowered their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Trading Up 1.5 %

ABBV opened at $171.52 on Friday. The stock has a market capitalization of $302.88 billion, a P/E ratio of 50.90, a P/E/G ratio of 2.16 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12 month low of $132.13 and a 12 month high of $182.89. The firm’s fifty day simple moving average is $164.60 and its 200 day simple moving average is $167.54.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed 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. 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 3.61%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.