Financial Sense Advisors Inc. Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Financial Sense Advisors Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,525 shares of the company’s stock after selling 865 shares during the quarter. Financial Sense Advisors Inc.’s holdings in AbbVie were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC purchased a new stake in AbbVie during the 4th quarter valued at about $26,000. Able Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter valued at about $33,000. IFS Advisors LLC purchased a new stake in AbbVie during the 1st quarter valued at about $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie during the 4th quarter valued at about $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in AbbVie during the 1st quarter valued at about $37,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Wednesday. BMO Capital Markets decreased their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Finally, Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two investment 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $181.07.

AbbVie Price Performance

Shares of AbbVie stock opened at $163.84 on Friday. The business has a 50 day simple moving average of $164.50 and a two-hundred day simple moving average of $167.80. AbbVie Inc. has a 12 month low of $132.70 and a 12 month high of $182.89. The stock has a market capitalization of $289.32 billion, a P/E ratio of 48.62, a PEG ratio of 2.12 and a beta of 0.64. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.78%. AbbVie’s 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.