AbbVie Inc. (NYSE:ABBV) Shares Sold by Silver Coast Investments LLC

Silver Coast Investments LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 15.5% in the first quarter, Holdings Channel reports. The firm owned 1,900 shares of the company’s stock after selling 348 shares during the quarter. Silver Coast Investments LLC’s holdings in AbbVie were worth $398,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Abound Financial LLC acquired a new position in AbbVie in the first quarter worth about $30,000. EnRich Financial Partners LLC lifted its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in AbbVie in the first quarter worth about $35,000. Pinney & Scofield Inc. bought a new position in AbbVie in the fourth quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie in the first quarter worth about $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $195.17 on Monday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The stock has a market cap of $344.75 billion, a price-to-earnings ratio of 92.94, a PEG ratio of 1.27 and a beta of 0.50. The stock’s 50 day moving average price is $188.33 and its 200 day moving average price is $190.42. 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 (NYSE:ABBV) last announced 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 for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.65 EPS. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.4%. AbbVie’s payout ratio is 312.38%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABBV shares. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Guggenheim raised their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley raised their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America raised their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Eight 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.