Park Edge Advisors LLC Sells 200 Shares of AbbVie Inc. (NYSE:ABBV)

Park Edge Advisors LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,171 shares of the company’s stock after selling 200 shares during the quarter. Park Edge Advisors LLC’s holdings in AbbVie were worth $760,000 as of its most recent SEC filing.

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

AbbVie Price Performance

Shares of NYSE:ABBV opened at $163.84 on Friday. 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 52 week low of $132.70 and a 52 week high of $182.89. The firm has a market cap of $289.32 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.64. The firm’s fifty day moving average is $164.43 and its 200-day moving average is $167.77.

AbbVie (NYSE:ABBV) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. Sell-side analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.78%. AbbVie’s payout ratio is 183.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Tuesday. Barclays lowered their price target 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 reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Thursday, June 20th. Finally, BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Two equities research 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’s stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

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.