Webster Bank N. A. Sells 175 Shares of AbbVie Inc. (NYSE:ABBV)

Webster Bank N. A. reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,406 shares of the company’s stock after selling 175 shares during the quarter. AbbVie makes up about 1.4% of Webster Bank N. A.’s portfolio, making the stock its 12th biggest holding. Webster Bank N. A.’s holdings in AbbVie were worth $12,275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the 4th quarter valued at $26,000. IFS Advisors LLC bought a new stake in AbbVie in the 1st quarter valued at $36,000. Able Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $37,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $42,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.5 %

Shares of AbbVie stock opened at $171.52 on Friday. AbbVie Inc. has a one year low of $132.13 and a one year high of $182.89. 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 stock’s 50-day moving average is $164.60 and its 200 day moving average is $167.54. The firm has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a PEG 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 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the company earned $2.46 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced 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 of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. AbbVie’s payout ratio is 183.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABBV shares. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. 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 research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.