Capasso Planning Partners LLC Trims Holdings in AbbVie Inc. (NYSE:ABBV)

Capasso Planning Partners LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,857 shares of the company’s stock after selling 787 shares during the period. AbbVie makes up approximately 0.7% of Capasso Planning Partners LLC’s investment portfolio, making the stock its 29th largest holding. Capasso Planning Partners LLC’s holdings in AbbVie were worth $1,646,000 at the end of the most recent quarter.

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

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Wells Fargo & Company upped their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Stock Up 0.0%

ABBV opened at $185.64 on Thursday. The stock has a market capitalization of $327.91 billion, a P/E ratio of 79.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The business’s 50-day simple moving average is $185.74 and its 200-day simple moving average is $187.81. 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 (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the firm posted $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.53%. AbbVie’s dividend payout ratio (DPR) is currently 279.15%.

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.