AbbVie Inc. (NYSE:ABBV) Shares Sold by MBM Wealth Consultants LLC

MBM Wealth Consultants LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,233 shares of the company’s stock after selling 68 shares during the period. AbbVie makes up about 0.7% of MBM Wealth Consultants LLC’s holdings, making the stock its 19th biggest position. MBM Wealth Consultants LLC’s holdings in AbbVie were worth $2,045,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $3,229,888,000. International Assets Investment Management LLC purchased a new stake in AbbVie during the fourth quarter worth $499,955,000. Capital International Investors boosted its position in 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 purchasing an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in AbbVie by 39.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after purchasing an additional 2,390,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 valued at $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.3 %

Shares of ABBV opened at $163.84 on Thursday. AbbVie Inc. has a 12 month low of $132.70 and a 12 month high of $182.89. The stock’s 50-day moving average is $164.58 and its two-hundred day moving average is $167.82. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market cap of $289.32 billion, a PE ratio of 48.62, a P/E/G ratio of 2.19 and a beta of 0.64.

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 for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the company posted $2.46 EPS. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABBV. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. BMO Capital Markets decreased their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday. Finally, Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.07.

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.