AbbVie Inc. (NYSE:ABBV) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 20.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,761 shares of the company’s stock after selling 8,732 shares during the quarter. AbbVie comprises about 1.8% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 11th largest holding. Alpine Woods Capital Investors LLC’s holdings in AbbVie were worth $7,283,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Abound Financial LLC purchased a new position in shares of AbbVie during the first quarter worth $30,000. EnRich Financial Partners LLC lifted its holdings in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the 4th quarter worth about $32,000. Pinney & Scofield Inc. purchased a new stake in AbbVie during the 4th quarter worth about $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABBV. Guggenheim increased their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Finally, Citigroup raised their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Stock Performance

Shares of AbbVie stock opened at $190.74 on Thursday. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The firm’s 50-day moving average is $187.10 and its 200 day moving average is $188.78. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock has a market cap of $336.92 billion, a price-to-earnings ratio of 81.17, a PEG ratio of 1.28 and a beta of 0.48.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.31 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.44%. AbbVie’s payout ratio is 279.15%.

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.