Atlas Legacy Advisors LLC Sells 560 Shares of AbbVie Inc. (NYSE:ABBV)

Atlas Legacy Advisors LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 34.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,053 shares of the company’s stock after selling 560 shares during the quarter. Atlas Legacy Advisors LLC’s holdings in AbbVie were worth $221,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in AbbVie by 25,841.6% during the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. FMR LLC increased its holdings in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares during the last quarter. Franklin Resources Inc. raised its position in shares of AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock valued at $3,064,773,000 after purchasing an additional 3,373,156 shares during the period. Northern Trust Corp lifted its stake in shares of AbbVie by 11.8% during the 4th 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 during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of AbbVie by 27.4% during the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company’s stock worth $1,735,969,000 after buying an additional 2,102,273 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. Evercore ISI upped 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. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Morgan Stanley upped their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Citigroup lifted their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Trading Down 0.3%

Shares of ABBV opened at $190.22 on Monday. 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 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 PEG ratio of 1.25 and a beta of 0.48. The business’s fifty day moving average is $187.62 and its 200-day moving average is $189.85.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for 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 revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.45%. AbbVie’s payout ratio is currently 279.15%.

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.