Souders Financial Advisors Has $2.45 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Souders Financial Advisors decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 31.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,690 shares of the company’s stock after selling 5,385 shares during the period. Souders Financial Advisors’ holdings in AbbVie were worth $2,449,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ABBV. Steel Grove Capital Advisors LLC grew its stake in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after acquiring an additional 52 shares during the period. Peninsula Wealth LLC raised its position in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after buying an additional 54 shares during the period. Connecticut Wealth Management LLC raised its holdings in AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after buying an additional 57 shares during the period. Castle Wealth Management LLC boosted its position in shares of AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock worth $361,000 after purchasing an additional 57 shares during the period. Finally, Northstar Group Inc. grew its stake in shares of AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock valued at $1,783,000 after buying an additional 58 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.1%

Shares of NYSE:ABBV opened at $189.26 on Friday. The company has a 50-day moving average price of $187.17 and a 200 day moving average price of $189.46. AbbVie Inc. has a 12 month low of $163.81 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 company has a market cap of $334.31 billion, a price-to-earnings ratio of 80.54, a PEG ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share 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 paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Guggenheim increased their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Cantor Fitzgerald assumed coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Finally, Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

About AbbVie

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.