AbbVie Inc. (NYSE:ABBV) Shares Sold by Cambridge Advisors Inc.

Cambridge Advisors Inc. cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the 1st quarter, Holdings Channel reports. The firm owned 8,720 shares of the company’s stock after selling 159 shares during the period. Cambridge Advisors Inc.’s holdings in AbbVie were worth $1,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LaFleur & Godfrey LLC increased its holdings in shares of AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after buying an additional 3,108 shares in the last quarter. Brighton Jones LLC raised its position in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of AbbVie in the 4th quarter valued at $876,000. Finally, Whipplewood Advisors LLC purchased a new position in AbbVie in the 4th quarter worth about $192,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $181.89 on Friday. The company has a market capitalization of $321.29 billion, a price-to-earnings ratio of 77.40, a P/E/G ratio of 1.24 and a beta of 0.50. The firm has a 50 day moving average of $186.21 and a two-hundred day moving average of $187.92. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66.

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 analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the prior year, the company posted $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is 279.15%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. 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. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was 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 owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

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.