OneAscent Financial Services LLC Sells 975 Shares of AbbVie Inc. (NYSE:ABBV)

OneAscent Financial Services LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 9.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,526 shares of the company’s stock after selling 975 shares during the quarter. OneAscent Financial Services LLC’s holdings in AbbVie were worth $1,735,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Morningstar Investment Services LLC grew its stake in shares of AbbVie by 78.7% in the 3rd quarter. Morningstar Investment Services LLC now owns 5,078 shares of the company’s stock worth $773,000 after buying an additional 2,236 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in AbbVie by 195.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock worth $729,000 after acquiring an additional 3,235 shares in the last quarter. Waverly Advisors LLC increased its stake in AbbVie by 12.0% during the third quarter. Waverly Advisors LLC now owns 29,538 shares of the company’s stock worth $4,403,000 after acquiring an additional 3,170 shares during the last quarter. United Services Automobile Association raised its position in AbbVie by 5.0% during the third quarter. United Services Automobile Association now owns 290,439 shares of the company’s stock valued at $43,293,000 after purchasing an additional 13,800 shares during the period. Finally, First Business Financial Services Inc. lifted its stake in shares of AbbVie by 0.7% in the 3rd quarter. First Business Financial Services Inc. now owns 13,717 shares of the company’s stock valued at $2,045,000 after purchasing an additional 89 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV stock opened at $171.52 on Friday. The firm has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.16 and a beta of 0.60. AbbVie Inc. has a 52-week low of $132.13 and a 52-week high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company’s 50 day moving average is $164.60 and its 200 day moving average is $167.54.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the company posted $2.46 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Piper Sandler increased their price target on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. BMO Capital Markets dropped their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Company 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.