AbbVie Inc. (NYSE:ABBV) Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank decreased its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 20.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,007 shares of the company’s stock after selling 3,110 shares during the quarter. AbbVie accounts for approximately 1.3% of Cape ANN Savings Bank’s holdings, making the stock its 23rd largest position. Cape ANN Savings Bank’s holdings in AbbVie were worth $1,946,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Castle Financial & Retirement Planning Associates Inc. acquired a new position in AbbVie during the 4th quarter valued at approximately $25,000. Intelligent Financial Strategies acquired a new position in AbbVie during the 4th quarter valued at approximately $27,000. Psagot Value Holdings Ltd. Israel boosted its position in AbbVie by 311.3% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after purchasing an additional 3,300 shares during the period. GoalVest Advisory LLC bought a new stake in AbbVie during the 1st quarter valued at $33,000. Finally, Joseph P. Lucia & Associates LLC bought a new stake in AbbVie during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 68.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $138.53 on Wednesday. AbbVie Inc. has a 1-year low of $105.56 and a 1-year high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. The company has a market capitalization of $244.93 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 3.97 and a beta of 0.72. The stock’s fifty day simple moving average is $143.42 and its 200-day simple moving average is $149.92.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the company posted $3.11 earnings per share. AbbVie’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a $1.41 dividend. The ex-dividend date is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a yield of 4.07%. AbbVie’s dividend payout ratio (DPR) is currently 79.89%.

Analyst Ratings Changes

Several analysts have weighed in on ABBV shares. UBS Group cut their target price on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Piper Sandler cut their target price on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. SVB Leerink started coverage on AbbVie in a research note on Monday, May 23rd. They set an “underperform” rating and a $140.00 target price on the stock. Barclays cut their target price on AbbVie to $160.00 in a research note on Tuesday, August 9th. Finally, Atlantic Securities cut their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $159.35.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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