Asset Advisors Investment Management LLC Sells 400 Shares of AbbVie Inc. (NYSE:ABBV)

Asset Advisors Investment Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,678 shares of the company’s stock after selling 400 shares during the quarter. AbbVie comprises about 2.1% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 16th largest position. Asset Advisors Investment Management LLC’s holdings in AbbVie were worth $19,837,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ABBV. Crestline Management LP boosted its position in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after buying an additional 28,753 shares during the period. Narus Financial Partners LLC boosted its position in AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock worth $417,000 after buying an additional 401 shares during the period. Dimensional Fund Advisors LP boosted its position in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after buying an additional 108,993 shares during the period. Quantbot Technologies LP boosted its position in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after buying an additional 276 shares during the period. Finally, AXA S.A. boosted its position in AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after buying an additional 125,568 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Evercore ISI lifted their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Finally, Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Eight equities 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 company. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Stock Performance

Shares of ABBV stock opened at $190.53 on Thursday. The firm has a 50-day moving average of $186.95 and a 200-day moving average of $189.20. The company has a market cap of $336.55 billion, a P/E ratio of 81.08, a P/E/G ratio of 1.24 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 earnings per share. Equities research analysts forecast 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. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.44%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

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.