AbbVie Inc. (NYSE:ABBV) Shares Sold by Barings LLC

Barings LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.7% in the first quarter, Holdings Channel reports. The firm owned 1,437 shares of the company’s stock after selling 191 shares during the period. Barings LLC’s holdings in AbbVie were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Fiduciary Wealth Partners LLC purchased a new stake in AbbVie during the 1st quarter worth $242,000. IFG Advisory LLC lifted its stake in shares of AbbVie by 2.3% during the first quarter. IFG Advisory LLC now owns 38,404 shares of the company’s stock worth $8,046,000 after purchasing an additional 880 shares in the last quarter. SPC Financial Inc. purchased a new stake in shares of AbbVie in the first quarter worth about $254,000. EagleClaw Capital Managment LLC boosted its position in shares of AbbVie by 5.9% in the first quarter. EagleClaw Capital Managment LLC now owns 73,927 shares of the company’s stock worth $15,489,000 after buying an additional 4,102 shares during the period. Finally, Moors & Cabot Inc. grew its stake in shares of AbbVie by 1.6% in the first quarter. Moors & Cabot Inc. now owns 66,548 shares of the company’s stock valued at $13,943,000 after buying an additional 1,041 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 3.3%

Shares of AbbVie stock opened at $195.17 on Friday. The business has a 50-day moving average price of $188.33 and a 200 day moving average price of $190.30. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a market cap of $344.75 billion, a P/E ratio of 92.94, a P/E/G ratio of 1.29 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. AbbVie’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is 279.15%.

Wall Street Analyst Weigh In

Several research firms recently commented on ABBV. Raymond James Financial boosted their price target on AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, Morgan Stanley boosted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.81.

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.