AbbVie Inc. (NYSE:ABBV) Shares Sold by Citizens Business Bank

Citizens Business Bank reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,097 shares of the company’s stock after selling 489 shares during the period. AbbVie makes up about 1.2% of Citizens Business Bank’s investment portfolio, making the stock its 24th largest position. Citizens Business Bank’s holdings in AbbVie were worth $5,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC raised its holdings in AbbVie by 195.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock worth $729,000 after buying an additional 3,235 shares during the period. Lazard Asset Management LLC lifted its position in shares of AbbVie by 95.1% in the 3rd quarter. Lazard Asset Management LLC now owns 195,048 shares of the company’s stock valued at $29,073,000 after acquiring an additional 95,057 shares in the last quarter. First National Bank of Omaha boosted its stake in AbbVie by 7.9% in the 3rd quarter. First National Bank of Omaha now owns 8,460 shares of the company’s stock worth $1,261,000 after purchasing an additional 620 shares during the period. Axxcess Wealth Management LLC grew its position in AbbVie by 93.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 64,426 shares of the company’s stock worth $9,603,000 after purchasing an additional 31,054 shares in the last quarter. Finally, Avenir Corp purchased a new stake in shares of AbbVie in the third quarter valued at $218,000. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Guggenheim boosted their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. BMO Capital Markets lowered their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Barclays cut their price objective on 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Trading Down 0.7 %

NYSE:ABBV opened at $170.37 on Tuesday. The company’s 50 day moving average is $164.60 and its 200-day moving average is $167.63. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12 month low of $132.70 and a 12 month high of $182.89. The firm has a market cap of $300.85 billion, a price-to-earnings ratio of 50.56, a P/E/G ratio of 2.19 and a beta of 0.64.

AbbVie (NYSE:ABBV) last released its earnings results 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. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. Equities analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

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 issued a dividend of $1.55 per share. 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 3.64%. 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.