AbbVie Inc. (NYSE:ABBV) Shares Sold by Massachusetts Wealth Management

Massachusetts Wealth Management trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,266 shares of the company’s stock after selling 200 shares during the quarter. Massachusetts Wealth Management’s holdings in AbbVie were worth $1,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $26,000. Able Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $33,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth about $36,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $37,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth about $37,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a 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. Piper Sandler reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Tuesday. Finally, BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.07.

AbbVie Stock Down 1.3 %

ABBV opened at $163.84 on Friday. AbbVie Inc. has a 12 month low of $132.70 and a 12 month high of $182.89. The stock has a market capitalization of $289.32 billion, a P/E ratio of 48.62, a P/E/G ratio of 2.12 and a beta of 0.64. The business has a 50 day simple moving average of $164.50 and a 200-day simple moving average of $167.80. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the business posted $2.46 EPS. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, July 15th. 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.