AbbVie Inc. (NYSE:ABBV) Shares Sold by MPS Loria Financial Planners LLC

MPS Loria Financial Planners LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.0% in the first quarter, Holdings Channel reports. The institutional investor owned 17,175 shares of the company’s stock after selling 1,497 shares during the quarter. AbbVie comprises approximately 1.1% of MPS Loria Financial Planners LLC’s holdings, making the stock its 10th largest position. MPS Loria Financial Planners LLC’s holdings in AbbVie were worth $3,128,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC increased its holdings in AbbVie by 195.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock valued at $729,000 after purchasing an additional 3,235 shares during the last quarter. Per Stirling Capital Management LLC. boosted its position in AbbVie by 2.5% in the 3rd quarter. Per Stirling Capital Management LLC. now owns 4,117 shares of the company’s stock valued at $614,000 after buying an additional 100 shares during the period. Logan Capital Management Inc. boosted its position in AbbVie by 5.8% in the 3rd quarter. Logan Capital Management Inc. now owns 122,373 shares of the company’s stock valued at $18,241,000 after buying an additional 6,681 shares during the period. Lazard Asset Management LLC boosted its position in AbbVie by 95.1% in the 3rd quarter. Lazard Asset Management LLC now owns 195,048 shares of the company’s stock valued at $29,073,000 after buying an additional 95,057 shares during the period. Finally, Provident Investment Management Inc. boosted its position in AbbVie by 18.3% in the 3rd quarter. Provident Investment Management Inc. now owns 3,307 shares of the company’s stock valued at $493,000 after buying an additional 512 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ABBV shares. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Piper Sandler lifted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Finally, Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Stock Performance

NYSE ABBV traded up $2.53 during trading hours on Friday, hitting $171.52. 24,463,599 shares of the stock were exchanged, compared to its average volume of 5,432,583. The company has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. AbbVie Inc. has a 12-month low of $132.13 and a 12-month high of $182.89. The stock has a 50-day moving average of $164.60 and a 200 day moving average of $167.54. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last issued its earnings results 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. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. 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.