Schwarz Dygos Wheeler Investment Advisors LLC Sells 1,120 Shares of AbbVie Inc. (NYSE:ABBV)

Schwarz Dygos Wheeler Investment Advisors LLC reduced its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 31.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,418 shares of the company’s stock after selling 1,120 shares during the quarter. Schwarz Dygos Wheeler Investment Advisors LLC’s holdings in AbbVie were worth $440,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lokken Investment Group LLC raised its holdings in AbbVie by 3.6% during the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in AbbVie by 0.6% during the first quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock worth $1,706,000 after purchasing an additional 59 shares in the last quarter. Aspen Wealth Strategies LLC raised its holdings in AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after purchasing an additional 61 shares in the last quarter. Marks Group Wealth Management Inc raised its holdings in AbbVie by 2.9% during the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after purchasing an additional 63 shares in the last quarter. Finally, Spinnaker Investment Group LLC raised its holdings in AbbVie by 1.6% during the first quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock worth $741,000 after purchasing an additional 64 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets cut their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Wednesday, July 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Tuesday. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.07.

Check Out Our Latest Research Report on AbbVie

AbbVie Stock Performance

NYSE:ABBV traded down $0.17 during midday trading on Wednesday, reaching $167.88. The stock had a trading volume of 2,472,296 shares, compared to its average volume of 5,608,501. The stock has a market cap of $296.45 billion, a P/E ratio of 49.84, a P/E/G ratio of 2.26 and a beta of 0.64. AbbVie Inc. has a 12-month low of $132.70 and a 12-month high of $182.89. The firm has a fifty day simple moving average of $164.79 and a two-hundred day simple moving average of $168.27. 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:ABBVGet Free Report) last issued 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 company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. On average, equities analysts expect that AbbVie Inc. will post 10.61 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given 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 3.69%. AbbVie’s payout ratio is currently 183.98%.

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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