AbbVie Inc. (NYSE:ABBV) Stock Holdings Lessened by Family Legacy Inc.

Family Legacy Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,553 shares of the company’s stock after selling 87 shares during the period. Family Legacy Inc.’s holdings in AbbVie were worth $2,211,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. EnRich Financial Partners LLC raised its stake in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC acquired a new stake in AbbVie during the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $31,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie during the 4th quarter valued at $32,000. Finally, Siemens Fonds Invest GmbH grew its holdings in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after acquiring an additional 119,141 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ABBV. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Stock Down 0.7%

Shares of ABBV opened at $183.92 on Tuesday. The company has a 50-day simple moving average of $185.28 and a 200-day simple moving average of $187.84. The firm has a market capitalization of $324.88 billion, a P/E ratio of 78.26, a P/E/G ratio of 1.23 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.57%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.08% of the company’s stock.

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.