AbbVie Inc. (NYSE:ABBV) Shares Sold by Insight Folios Inc

Insight Folios Inc trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 17.9% in the 1st quarter, HoldingsChannel reports. The firm owned 39,620 shares of the company’s stock after selling 8,661 shares during the period. AbbVie makes up 2.9% of Insight Folios Inc’s investment portfolio, making the stock its 6th biggest position. Insight Folios Inc’s holdings in AbbVie were worth $7,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the 4th quarter worth $26,000. IFS Advisors LLC acquired a new position in AbbVie during the 1st quarter worth $36,000. Redmont Wealth Advisors LLC purchased a new stake in AbbVie during the 1st quarter worth about $37,000. Able Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter worth about $33,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie during the 4th quarter worth about $37,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 1.3 %

ABBV opened at $163.84 on Friday. The business has a 50 day moving average price of $164.43 and a two-hundred day moving average price of $167.77. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a market cap of $289.32 billion, a PE ratio of 48.62, a P/E/G ratio of 2.10 and a beta of 0.64. AbbVie Inc. has a 52 week low of $132.70 and a 52 week high of $182.89.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target 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 for the company in a report on Monday, April 29th. Piper Sandler reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Tuesday. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Finally, Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.07.

About AbbVie

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.