Integrated Investment Consultants LLC Sells 161,010 Shares of AbbVie Inc. (NYSE:ABBV)

Integrated Investment Consultants LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 90.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,729 shares of the company’s stock after selling 161,010 shares during the period. Integrated Investment Consultants LLC’s holdings in AbbVie were worth $3,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ABBV. Brighton Jones LLC grew its position in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC grew its position in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Quantbot Technologies LP grew its position in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after purchasing an additional 276 shares in the last quarter. UniSuper Management Pty Ltd grew its position in AbbVie by 18.7% in the fourth quarter. UniSuper Management Pty Ltd now owns 99,436 shares of the company’s stock valued at $17,670,000 after purchasing an additional 15,690 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in AbbVie by 1.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 79,414 shares of the company’s stock valued at $14,112,000 after purchasing an additional 824 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ABBV shares. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. Morgan Stanley increased their price target 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. Finally, Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Price Performance

NYSE:ABBV opened at $190.22 on Friday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The firm has a market cap of $336.00 billion, a price-to-earnings ratio of 80.94, a P/E/G ratio of 1.27 and a beta of 0.48. The firm’s 50-day simple moving average is $187.62 and its 200 day simple moving average is $189.70. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping 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 business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the firm earned $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 is Tuesday, July 15th. AbbVie’s dividend payout ratio is 279.15%.

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.