Hummer Financial Advisory Services Inc cut its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,840 shares of the company’s stock after selling 200 shares during the quarter. AbbVie comprises approximately 1.4% of Hummer Financial Advisory Services Inc’s portfolio, making the stock its 11th largest holding. Hummer Financial Advisory Services Inc’s holdings in AbbVie were worth $1,201,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of ABBV. Minot Wealth Management LLC increased its stake in shares of AbbVie by 1.2% during the first quarter. Minot Wealth Management LLC now owns 66,161 shares of the company’s stock worth $10,725,000 after acquiring an additional 800 shares during the period. Eudaimonia Partners LLC acquired a new position in shares of AbbVie during the first quarter worth about $4,231,000. Oldfather Financial Services LLC acquired a new position in shares of AbbVie during the fourth quarter worth about $250,000. HHM Wealth Advisors LLC increased its stake in shares of AbbVie by 38.7% during the first quarter. HHM Wealth Advisors LLC now owns 5,380 shares of the company’s stock worth $872,000 after acquiring an additional 1,502 shares during the period. Finally, Callahan Advisors LLC increased its stake in shares of AbbVie by 0.3% during the first quarter. Callahan Advisors LLC now owns 34,192 shares of the company’s stock worth $5,543,000 after acquiring an additional 115 shares during the period. 68.25% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently commented on ABBV shares. Argus decreased their price objective on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. Atlantic Securities decreased their price objective on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. UBS Group decreased their price objective on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Morgan Stanley decreased their price objective on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a report on Monday, August 1st. Finally, Piper Sandler decreased their price objective on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.35.
AbbVie Price Performance
AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, topping 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 company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the company posted $3.11 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 14.05 EPS for the current fiscal year.
AbbVie Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie’s dividend payout ratio is presently 79.89%.
AbbVie Company Profile
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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