Caldwell Sutter Capital Inc. Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Caldwell Sutter Capital Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 5.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,847 shares of the company’s stock after selling 344 shares during the period. Caldwell Sutter Capital Inc.’s holdings in AbbVie were worth $1,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of AbbVie during the fourth quarter valued at $3,229,888,000. International Assets Investment Management LLC purchased a new stake in AbbVie during the 4th quarter valued at about $499,955,000. Capital International Investors increased its stake in AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after purchasing an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in AbbVie by 39.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after buying an additional 2,390,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Tuesday. BMO Capital Markets decreased their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.07.

AbbVie Stock Down 1.3 %

Shares of ABBV stock opened at $163.84 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.83 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 stock has a market cap of $289.32 billion, a P/E ratio of 48.62, a P/E/G ratio of 2.19 and a beta of 0.64. The company has a 50 day simple moving average of $164.58 and a two-hundred day simple moving average of $167.82.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate 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 return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. On average, research analysts expect that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.78%. AbbVie’s payout ratio is currently 183.98%.

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.