Westhampton Capital LLC Sells 750 Shares of AbbVie Inc. (NYSE:ABBV)

Westhampton Capital LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,809 shares of the company’s stock after selling 750 shares during the period. Westhampton Capital LLC’s holdings in AbbVie were worth $1,422,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Schonfeld Strategic Advisors LLC lifted its holdings in AbbVie by 195.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock valued at $729,000 after acquiring an additional 3,235 shares during the period. Lazard Asset Management LLC lifted its stake 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 worth $29,073,000 after purchasing an additional 95,057 shares during the period. First National Bank of Omaha boosted its holdings in shares of AbbVie by 7.9% in the third quarter. First National Bank of Omaha now owns 8,460 shares of the company’s stock worth $1,261,000 after buying an additional 620 shares during the last quarter. Ameriprise Financial Inc. grew its position in AbbVie by 1.4% during the third quarter. Ameriprise Financial Inc. now owns 14,066,082 shares of the company’s stock valued at $2,098,436,000 after buying an additional 199,833 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its holdings in AbbVie by 32.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,014,817 shares of the company’s stock valued at $300,329,000 after buying an additional 498,978 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $165.97 on Wednesday. The company has a market cap of $293.08 billion, a P/E ratio of 49.25, a P/E/G ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a 52-week low of $132.70 and a 52-week 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 firm’s fifty day moving average is $164.65 and its two-hundred day moving average is $167.74.

AbbVie (NYSE:ABBV) last issued its 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. 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 analysts’ expectations of $11.93 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal 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 issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ABBV shares. 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. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Tuesday. Two equities 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. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $181.07.

AbbVie Company 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.