AbbVie Inc. (NYSE:ABBV) Stock Holdings Lessened by Lipe & Dalton

Lipe & Dalton reduced its stake in AbbVie Inc. (NYSE:ABBV) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,835 shares of the company’s stock after selling 560 shares during the quarter. AbbVie comprises approximately 2.9% of Lipe & Dalton’s portfolio, making the stock its 7th biggest holding. Lipe & Dalton’s holdings in AbbVie were worth $5,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Archer Investment Corp lifted its position in AbbVie by 9.1% during the first quarter. Archer Investment Corp now owns 8,786 shares of the company’s stock worth $1,841,000 after buying an additional 733 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in AbbVie during the first quarter worth about $688,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its position in AbbVie by 2.8% during the first quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 6,467 shares of the company’s stock worth $1,355,000 after buying an additional 178 shares during the period. Ring Mountain Capital LLC lifted its position in AbbVie by 3.7% during the first quarter. Ring Mountain Capital LLC now owns 1,871 shares of the company’s stock worth $392,000 after buying an additional 67 shares during the period. Finally, Creekmur Asset Management LLC lifted its position in AbbVie by 8.7% during the first quarter. Creekmur Asset Management LLC now owns 10,007 shares of the company’s stock worth $2,097,000 after buying an additional 804 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.7%

NYSE ABBV traded down $1.26 during mid-day trading on Friday, reaching $190.14. 747,151 shares of the company’s stock traded hands, compared to its average volume of 6,299,132. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company has a fifty day simple moving average of $187.07 and a 200-day simple moving average of $189.30. 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 company has a market cap of $335.86 billion, a price-to-earnings ratio of 80.92, a P/E/G ratio of 1.26 and a beta of 0.48.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm earned $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.45%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Bank of America raised their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.