AbbVie Inc. (NYSE:ABBV) Shares Sold by Security National Bank

Security National Bank cut its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 26.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,014 shares of the company’s stock after selling 716 shares during the period. Security National Bank’s holdings in AbbVie were worth $367,000 as of its most recent SEC filing.

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

AbbVie Trading Down 1.2 %

Shares of ABBV traded down $1.99 during mid-day trading on Tuesday, hitting $170.75. The company had a trading volume of 5,712,613 shares, compared to its average volume of 5,519,948. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The business’s 50-day simple moving average is $164.11 and its 200-day simple moving average is $167.11. The stock has a market cap of $301.52 billion, a PE ratio of 50.71, a P/E/G ratio of 2.18 and a beta of 0.60.

AbbVie (NYSE:ABBVGet Free Report) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts forecast 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. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Analysts Set New Price Targets

Several research firms have issued reports on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Piper Sandler boosted their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $179.64.

View Our Latest Stock Analysis on ABBV

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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