AbbVie Inc. (NYSE:ABBV) Shares Sold by Annapolis Financial Services LLC

Annapolis Financial Services LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 29.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 454 shares of the company’s stock after selling 191 shares during the period. Annapolis Financial Services LLC’s holdings in AbbVie were worth $83,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie in the fourth quarter valued at $26,000. Able Wealth Management LLC purchased a new position in AbbVie in the fourth quarter valued at $33,000. IFS Advisors LLC purchased a new position in AbbVie in the first quarter valued at $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie in the fourth quarter valued at $37,000. Finally, Clarity Asset Management Inc. purchased a new position in AbbVie in the fourth quarter valued at $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ABBV. Piper Sandler increased their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Barclays dropped their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. BMO Capital Markets dropped their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. 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 has a consensus rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Stock Performance

ABBV stock traded up $2.53 during trading on Friday, hitting $171.52. The company had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. The firm has a market cap of $302.88 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. AbbVie Inc. has a 1-year low of $132.13 and a 1-year high of $182.89. The firm has a 50-day moving average price of $164.60 and a 200-day moving average price of $167.54. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 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.