AbbVie Inc. (NYSE:ABBV) Shares Sold by Eagle Wealth Strategies LLC

Eagle Wealth Strategies LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,352 shares of the company’s stock after selling 99 shares during the period. Eagle Wealth Strategies LLC’s holdings in AbbVie were worth $425,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the 4th quarter worth $26,000. Able Wealth Management LLC acquired a new position in AbbVie during the 4th quarter worth $33,000. IFS Advisors LLC acquired a new position in AbbVie during the 1st quarter worth $36,000. Ables Iannone Moore & Associates Inc. acquired a new position in AbbVie during the 4th quarter worth $37,000. Finally, Clarity Asset Management Inc. acquired a new position in AbbVie during the 4th quarter worth $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Piper Sandler raised their price target 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. Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Guggenheim raised their price target 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, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Two equities research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Price Performance

Shares of ABBV traded down $1.99 during mid-day trading on Tuesday, hitting $170.75. The company’s stock had a trading volume of 5,712,613 shares, compared to its average volume of 5,519,948. The firm has a 50-day moving average price of $164.27 and a 200 day moving average price of $167.26. The stock has a market capitalization of $301.52 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 2.18 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.

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

AbbVie Dividend Announcement

The company also recently announced 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. This represents a $6.20 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 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.