TKG Advisors LLC Sells 1,747 Shares of AbbVie Inc. (NYSE:ABBV)

TKG Advisors LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,812 shares of the company’s stock after selling 1,747 shares during the period. AbbVie accounts for 1.2% of TKG Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. TKG Advisors LLC’s holdings in AbbVie were worth $2,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. LaFleur & Godfrey LLC boosted its holdings in AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after buying an additional 3,108 shares during the period. Brighton Jones LLC raised its stake in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its stake in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the period. Fisher Asset Management LLC boosted its position in shares of AbbVie by 11.1% in the fourth quarter. Fisher Asset Management LLC now owns 43,233 shares of the company’s stock valued at $7,683,000 after acquiring an additional 4,319 shares during the period. Finally, Synergy Investment Management LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.4%

Shares of ABBV stock opened at $190.78 on Thursday. The stock has a fifty day simple moving average of $187.12 and a two-hundred day simple moving average of $188.23. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The firm has a market capitalization of $336.99 billion, a PE ratio of 81.18, a PEG ratio of 1.26 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Guggenheim increased their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Bank of America raised their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Citigroup upped their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.