Walled Lake Planning & Wealth Management LLC Sells 55 Shares of AbbVie Inc. (NYSE:ABBV)

Walled Lake Planning & Wealth Management LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the first quarter, Holdings Channel reports. The fund owned 3,007 shares of the company’s stock after selling 55 shares during the period. Walled Lake Planning & Wealth Management LLC’s holdings in AbbVie were worth $630,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Abound Financial LLC bought a new position in shares of AbbVie in the 1st quarter valued at about $30,000. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the 1st quarter valued at about $35,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $32,000. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $36,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley lifted 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. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Guggenheim lifted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Bank of America lifted 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. Finally, Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Price Performance

Shares of ABBV opened at $188.47 on Tuesday. The company has a market cap of $332.91 billion, a price-to-earnings ratio of 80.20, a PEG ratio of 1.25 and a beta of 0.48. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company’s fifty day simple moving average is $187.68 and its 200 day simple moving average is $189.94. 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 (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for 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 firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.48%. AbbVie’s payout ratio is 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.