AbbVie Inc. (NYSE:ABBV) Position Lessened by New England Capital Financial Advisors LLC

New England Capital Financial Advisors LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 31.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 538 shares of the company’s stock after selling 250 shares during the period. New England Capital Financial Advisors LLC’s holdings in AbbVie were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. EnRich Financial Partners LLC raised its holdings in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares in the last quarter. Abound Financial LLC bought a new position in AbbVie during the first quarter valued at about $30,000. Prudent Man Investment Management Inc. bought a new position in AbbVie during the fourth quarter valued at about $32,000. Siemens Fonds Invest GmbH raised its holdings in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new position in AbbVie during the first quarter valued at about $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Down 1.1%

NYSE ABBV opened at $189.26 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock’s 50 day moving average is $187.17 and its two-hundred day moving average is $189.46. The company has a market capitalization of $334.31 billion, a price-to-earnings ratio of 80.54, 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.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 earnings per share. Equities 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. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 279.15%.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Bank of America raised their target price on AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Citigroup lifted their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.