Monument Capital Management Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Monument Capital Management reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,472 shares of the company’s stock after selling 80 shares during the period. Monument Capital Management’s holdings in AbbVie were worth $1,179,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBV. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Tuesday. Finally, Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

AbbVie Stock Down 1.3 %

ABBV stock opened at $163.84 on Thursday. The stock has a market capitalization of $289.32 billion, a P/E ratio of 48.62, a PEG ratio of 2.19 and a beta of 0.64. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a one year low of $132.70 and a one year high of $182.89. The company has a 50 day moving average price of $164.58 and a two-hundred day moving average price of $167.82.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the company earned $2.46 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

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 paid a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.78%. 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.