OneAscent Wealth Management LLC Sells 367 Shares of AbbVie Inc. (NYSE:ABBV)

OneAscent Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,181 shares of the company’s stock after selling 367 shares during the quarter. OneAscent Wealth Management LLC’s holdings in AbbVie were worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ABBV. Norges Bank bought a new position in shares of AbbVie during the fourth quarter worth $3,229,888,000. International Assets Investment Management LLC bought a new position in shares of AbbVie during the fourth quarter worth $499,955,000. Capital International Investors boosted its position in shares of AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after acquiring an additional 2,542,463 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after acquiring an additional 2,390,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 1.5 %

NYSE ABBV opened at $171.52 on Friday. The company’s 50-day moving average price is $164.60 and its 200-day moving average price is $167.54. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a market cap of $302.88 billion, a PE ratio of 50.90, a PEG ratio of 2.16 and a beta of 0.60. AbbVie Inc. has a 12 month low of $132.13 and a 12 month high of $182.89.

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

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABBV. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Piper Sandler upped their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Finally, BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.