Abbot Financial Management Inc. Has $3.16 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Abbot Financial Management Inc. cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,071 shares of the company’s stock after selling 150 shares during the period. AbbVie accounts for 1.6% of Abbot Financial Management Inc.’s holdings, making the stock its 13th largest position. Abbot Financial Management Inc.’s holdings in AbbVie were worth $3,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Galvin Gaustad & Stein LLC lifted its holdings in shares of AbbVie by 16.0% during the first quarter. Galvin Gaustad & Stein LLC now owns 4,878 shares of the company’s stock worth $1,022,000 after buying an additional 673 shares in the last quarter. Shoker Investment Counsel Inc. grew its stake in shares of AbbVie by 0.5% in the first quarter. Shoker Investment Counsel Inc. now owns 23,204 shares of the company’s stock valued at $4,862,000 after acquiring an additional 118 shares in the last quarter. Carrera Capital Advisors increased its position in AbbVie by 12.8% during the first quarter. Carrera Capital Advisors now owns 1,348 shares of the company’s stock worth $282,000 after acquiring an additional 153 shares during the period. Metis Global Partners LLC raised its stake in AbbVie by 13.8% in the 1st quarter. Metis Global Partners LLC now owns 112,234 shares of the company’s stock worth $23,515,000 after purchasing an additional 13,570 shares in the last quarter. Finally, First National Advisers LLC bought a new stake in AbbVie in the 1st quarter valued at about $215,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.3%

Shares of NYSE ABBV opened at $190.22 on Monday. The company has a 50 day simple moving average of $187.62 and a 200 day simple moving average of $189.85. 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 1 year low of $163.81 and a 1 year high of $218.66. The firm has a market cap of $336.00 billion, a PE ratio of 80.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

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

AbbVie Dividend Announcement

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

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. 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. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Citigroup upped their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. 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, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price 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.