Hengehold Capital Management LLC Cuts Stake in AbbVie Inc. (NYSE:ABBV)

Hengehold Capital Management LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,413 shares of the company’s stock after selling 227 shares during the quarter. Hengehold Capital Management LLC’s holdings in AbbVie were worth $4,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $26,000. IFS Advisors LLC purchased a new stake in AbbVie during the 1st quarter valued at $36,000. Able Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter worth $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie in the fourth quarter worth about $37,000. Finally, Clarity Asset Management Inc. bought a new stake in AbbVie during the fourth quarter valued at approximately $42,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. Barclays dropped their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Thursday, June 20th. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Trading Down 1.3 %

NYSE ABBV traded down $2.16 during trading on Thursday, hitting $168.99. The stock had a trading volume of 4,960,941 shares, compared to its average volume of 5,520,492. The stock has a market capitalization of $298.41 billion, a price-to-earnings ratio of 50.17, a P/E/G ratio of 2.18 and a beta of 0.60. The stock has a 50 day simple moving average of $164.41 and a 200 day simple moving average of $167.29. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 EPS. Sell-side analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

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.