AbbVie Inc. $ABBV Shares Sold by Stephens Inc. AR

Stephens Inc. AR lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,021 shares of the company’s stock after selling 8,371 shares during the period. Stephens Inc. AR’s holdings in AbbVie were worth $30,931,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Chelsea Counsel Co. purchased a new stake in AbbVie during the 3rd quarter worth $26,000. Litman Gregory Wealth Management LLC purchased a new position in AbbVie in the 4th quarter valued at about $28,000. Westend Capital Management LLC purchased a new position in AbbVie in the 4th quarter valued at about $29,000. Imprint Wealth LLC grew its stake in shares of AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of AbbVie during the third quarter valued at about $31,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABBV. Wells Fargo & Company set a $260.00 price target on AbbVie in a research note on Monday, June 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Guggenheim reaffirmed a “buy” rating and issued a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. Finally, Evercore set a $235.00 target price on AbbVie in a research note on Friday, May 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.81.

AbbVie Stock Performance

NYSE:ABBV opened at $260.88 on Monday. The company has a market capitalization of $460.92 billion, a price-to-earnings ratio of 128.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64. The stock has a 50-day simple moving average of $220.19 and a 200 day simple moving average of $220.25.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 14.28 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is 340.89%.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.