AbbVie Inc. (NYSE:ABBV) Shares Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 7.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,137 shares of the company’s stock after selling 553 shares during the period. Crescent Grove Advisors LLC’s holdings in AbbVie were worth $1,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. LaFleur & Godfrey LLC raised its holdings in shares of AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after buying an additional 3,108 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of AbbVie in the fourth quarter valued at about $876,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $192,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 2.6%

Shares of AbbVie stock opened at $181.89 on Friday. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock has a market cap of $321.29 billion, a PE ratio of 77.40, a price-to-earnings-growth ratio of 1.24 and a beta of 0.50. The company has a 50-day moving average of $186.21 and a two-hundred day moving average of $187.92.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period last year, the company posted $2.31 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.61%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABBV. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Morgan Stanley upped their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, Bank of America increased their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

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.