AbbVie Inc. (NYSE:ABBV) Shares Sold by First Dallas Securities Inc.

First Dallas Securities Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,875 shares of the company’s stock after selling 1,101 shares during the period. AbbVie makes up about 1.6% of First Dallas Securities Inc.’s portfolio, making the stock its 13th largest holding. First Dallas Securities Inc.’s holdings in AbbVie were worth $3,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares during the period. Capital International Investors lifted its stake in AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after buying an additional 2,542,463 shares in the last quarter. Morgan Stanley boosted its holdings in AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie during the fourth quarter valued at approximately $3,229,888,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.5 %

Shares of AbbVie stock opened at $171.52 on Friday. The stock has a 50 day moving average of $164.60 and a 200 day moving average of $167.54. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market capitalization 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 fifty-two week low of $132.13 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 EPS. As a group, research analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid 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 is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABBV. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Piper Sandler boosted their price target on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Finally, BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

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.