Financial Security Advisor Inc. Sells 102 Shares of AbbVie Inc. (NYSE:ABBV)

Financial Security Advisor Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.2% in the 1st quarter, Holdings Channel reports. The firm owned 3,069 shares of the company’s stock after selling 102 shares during the period. Financial Security Advisor Inc.’s holdings in AbbVie were worth $559,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the 4th quarter worth approximately $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $33,000. IFS Advisors LLC bought a new position in shares of AbbVie during the 1st quarter valued at $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie in the 4th quarter worth $37,000. Finally, Clarity Asset Management Inc. purchased a new stake in AbbVie during the fourth quarter valued at about $42,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABBV. Piper Sandler Companies restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Wednesday. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Thursday, June 20th. Finally, BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.07.

AbbVie Stock Down 2.6 %

Shares of AbbVie stock opened at $165.97 on Wednesday. The company has a 50-day simple moving average of $164.65 and a two-hundred day simple moving average of $167.74. AbbVie Inc. has a 52-week low of $132.70 and a 52-week high of $182.89. 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 stock has a market capitalization of $293.08 billion, a PE ratio of 49.25, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating 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 business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the business posted $2.46 EPS. The company’s revenue was up .7% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.74%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

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.