Personal CFO Solutions LLC Cuts Stake in AbbVie Inc. (NYSE:ABBV)

Personal CFO Solutions LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,347 shares of the company’s stock after selling 171 shares during the quarter. Personal CFO Solutions LLC’s holdings in AbbVie were worth $1,539,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Abound Financial LLC purchased a new position in shares of AbbVie during the 1st quarter worth about $30,000. EnRich Financial Partners LLC increased its stake in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in AbbVie in the fourth quarter worth $32,000. Pinney & Scofield Inc. acquired a new position in AbbVie in the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie during the first quarter valued at $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.2%

ABBV opened at $189.84 on Tuesday. The stock has a market capitalization of $335.33 billion, a PE ratio of 80.77, a PEG ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a 1-year low of $163.81 and a 1-year 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 firm has a 50-day moving average price of $187.27 and a two-hundred day moving average price of $188.76.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. AbbVie’s dividend payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective for the company. Morgan Stanley upped their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.