AbbVie Inc. (NYSE:ABBV) Stock Position Trimmed by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,367 shares of the company’s stock after selling 559 shares during the quarter. AbbVie accounts for about 4.3% of Carolina Wealth Advisors LLC’s holdings, making the stock its 3rd biggest position. Carolina Wealth Advisors LLC’s holdings in AbbVie were worth $8,039,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $32,000. Siemens Fonds Invest GmbH boosted its stake 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 worth $32,000 after acquiring an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 2.6%

Shares of ABBV opened at $181.89 on Friday. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The stock has a fifty day moving average of $186.21 and a two-hundred day moving average of $187.92. The company has a market capitalization of $321.29 billion, a PE ratio of 77.40, a price-to-earnings-growth ratio of 1.24 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 (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the company earned $2.31 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current 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 paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.61%. AbbVie’s dividend payout ratio is presently 279.15%.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. Wells Fargo & Company boosted their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup boosted their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

About AbbVie

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.