AbbVie Inc. (NYSE:ABBV) Shares Sold by Courier Capital LLC

Courier Capital LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,719 shares of the company’s stock after selling 1,215 shares during the period. Courier Capital LLC’s holdings in AbbVie were worth $3,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC bought a new position in shares of AbbVie during the fourth quarter worth about $26,000. IFS Advisors LLC bought a new position in shares of AbbVie during the first quarter worth about $36,000. Able Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the 4th quarter valued at about $37,000. Finally, Clarity Asset Management Inc. bought a new position in AbbVie in the 4th quarter valued at about $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV traded down $2.16 during trading on Thursday, reaching $168.99. 4,960,941 shares of the company’s stock were exchanged, compared to its average volume of 5,520,492. The company has a market capitalization of $298.41 billion, a P/E ratio of 50.17, a PEG ratio of 2.18 and a beta of 0.60. The business has a 50 day moving average price of $164.41 and a 200 day moving average price of $167.29. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week 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.

AbbVie (NYSE:ABBV) last issued 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%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $2.46 earnings per share. As a group, analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent analyst reports. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Guggenheim raised their price objective 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. BMO Capital Markets reduced their price objective 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. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Finally, Barclays reduced 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. 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. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $179.64.

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.