AbbVie Inc. (NYSE:ABBV) Shares Sold by Chatham Capital Group Inc.

Chatham Capital Group Inc. reduced its position in AbbVie Inc. (NYSE:ABBV) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,105 shares of the company’s stock after selling 93 shares during the period. AbbVie comprises about 1.0% of Chatham Capital Group Inc.’s portfolio, making the stock its 29th biggest holding. Chatham Capital Group Inc.’s holdings in AbbVie were worth $5,664,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. American National Bank raised its position in AbbVie by 4.8% during the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after acquiring an additional 2,695 shares during the period. AXS Investments LLC raised its position in shares of AbbVie by 3.3% in the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after buying an additional 307 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in shares of AbbVie by 1.0% in the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after buying an additional 165 shares during the last quarter. Mizuho Markets Americas LLC raised its position in shares of AbbVie by 33.4% in the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after buying an additional 7,737 shares during the last quarter. Finally, Amplius Wealth Advisors LLC raised its position in shares of AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after buying an additional 400 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABBV. HSBC upgraded shares of 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. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler upped 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. Barclays dropped their price objective 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Stock Up 1.5 %

Shares of ABBV opened at $171.52 on Monday. The stock has a market capitalization of $302.88 billion, a PE ratio of 50.90, a P/E/G ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a 1 year low of $132.13 and a 1 year 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 50-day simple moving average is $164.60 and its 200-day simple moving average is $167.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. Analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders 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 dividend payout ratio 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.