Mendel Money Management Sells 528 Shares of AbbVie Inc. (NYSE:ABBV)

Mendel Money Management lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,747 shares of the company’s stock after selling 528 shares during the period. AbbVie makes up 1.2% of Mendel Money Management’s investment portfolio, making the stock its 28th largest holding. Mendel Money Management’s holdings in AbbVie were worth $2,461,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after buying an additional 778,126 shares in the last quarter. Norges Bank bought a new position in shares of AbbVie in the fourth quarter worth approximately $4,459,385,000. Northern Trust Corp lifted its stake in shares of AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after buying an additional 2,299,645 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $190.34 on Thursday. The firm has a 50-day moving average price of $187.31 and a 200-day moving average price of $189.55. The firm has a market capitalization of $336.22 billion, a PE ratio of 81.00, a price-to-earnings-growth ratio of 1.24 and a beta of 0.48. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) 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 analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $2.31 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Finally, Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.