AbbVie Inc. (NYSE:ABBV) Shares Sold by Atticus Wealth Management LLC

Atticus Wealth Management LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,988 shares of the company’s stock after selling 238 shares during the quarter. Atticus Wealth Management LLC’s holdings in AbbVie were worth $726,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Winthrop Advisory Group LLC increased its position in AbbVie by 2.2% during the 1st quarter. Winthrop Advisory Group LLC now owns 3,582 shares of the company’s stock worth $652,000 after purchasing an additional 78 shares in the last quarter. First Bank & Trust increased its position in shares of AbbVie by 3.8% in the first quarter. First Bank & Trust now owns 18,806 shares of the company’s stock worth $3,425,000 after acquiring an additional 681 shares in the last quarter. Grimes & Company Inc. raised its stake in shares of AbbVie by 0.9% in the 1st quarter. Grimes & Company Inc. now owns 100,241 shares of the company’s stock valued at $18,254,000 after acquiring an additional 880 shares during the period. WoodTrust Financial Corp acquired a new position in shares of AbbVie during the 1st quarter valued at $526,000. Finally, Burns J W & Co. Inc. NY boosted its position in AbbVie by 1.7% during the 1st quarter. Burns J W & Co. Inc. NY now owns 32,523 shares of the company’s stock worth $5,922,000 after purchasing an additional 545 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets decreased their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. Finally, Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Stock Up 1.5 %

AbbVie stock traded up $2.53 during midday trading on Friday, hitting $171.52. The stock had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The business has a fifty day moving average price of $164.60 and a 200 day moving average price of $167.54. AbbVie Inc. has a 12 month low of $132.13 and a 12 month high of $182.89. The stock has a market cap of $302.88 billion, a P/E ratio of 50.90, a P/E/G ratio of 2.16 and a beta of 0.60.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

About AbbVie

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.