AbbVie Inc. (NYSE:ABBV) Holdings Lowered by Miller Financial Services LLC

Miller Financial Services LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 14.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,177 shares of the company’s stock after selling 199 shares during the quarter. Miller Financial Services LLC’s holdings in AbbVie were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after purchasing an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after purchasing an additional 778,126 shares in the last quarter. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter worth approximately $4,459,385,000. Finally, Northern Trust Corp raised its holdings in shares of AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after purchasing an additional 2,299,645 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of AbbVie stock opened at $189.26 on Monday. 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 fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a fifty day moving average price of $187.17 and a two-hundred day moving average price of $189.53. The company has a market cap of $334.31 billion, a PE ratio of 80.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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 net margin of 7.31% and a return on equity of 412.03%. The firm 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 firm earned $2.31 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is 279.15%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. Morgan Stanley boosted 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. Finally, Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Eight investment 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 company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

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.