Viewpoint Capital Management LLC Sells 100 Shares of AbbVie Inc. (NYSE:ABBV)

Viewpoint Capital Management LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,057 shares of the company’s stock after selling 100 shares during the quarter. Viewpoint Capital Management LLC’s holdings in AbbVie were worth $557,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Lokken Investment Group LLC increased its stake in AbbVie by 3.6% in the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after acquiring an additional 58 shares during the last quarter. Aspen Wealth Strategies LLC increased its position in shares of AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares during the last quarter. Marks Group Wealth Management Inc increased its position in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after purchasing an additional 63 shares during the last quarter. Avion Wealth increased its position in shares of AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares during the last quarter. Finally, White Pine Capital LLC increased its position in shares of AbbVie by 1.2% during the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $171.52 on Friday. The firm has a market cap 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. AbbVie Inc. has a fifty-two week low of $132.13 and a fifty-two week high of $182.89. The business’s 50 day moving average price is $164.60 and its 200-day moving average price is $167.54. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping 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 firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company earned $2.46 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. AbbVie’s dividend payout ratio is presently 183.98%.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. HSBC raised 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. Barclays decreased their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.