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

Vicus Capital reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 14.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,277 shares of the company’s stock after selling 393 shares during the period. Vicus Capital’s holdings in AbbVie were worth $415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Norges Bank acquired a new stake in shares of AbbVie during the fourth quarter worth $3,229,888,000. International Assets Investment Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $499,955,000. Capital International Investors lifted its stake in shares of AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after buying an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

AbbVie Price Performance

Shares of NYSE ABBV traded up $2.53 during trading on Friday, hitting $171.52. The company had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. The stock has a fifty day simple moving average of $164.60 and a two-hundred day simple moving average of $167.54. AbbVie Inc. has a fifty-two week low of $132.13 and a fifty-two week high of $182.89. The firm has a market capitalization 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. 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 announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The business 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. 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 (DPR) is 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.