AbbVie Inc. (NYSE:ABBV) Shares Sold by Berbice Capital Management LLC

Berbice Capital Management LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 14.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,740 shares of the company’s stock after selling 825 shares during the period. AbbVie comprises about 0.9% of Berbice Capital Management LLC’s holdings, making the stock its 21st biggest position. Berbice Capital Management LLC’s holdings in AbbVie were worth $993,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Abound Financial LLC acquired a new position in AbbVie during the first quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $32,000. Siemens Fonds Invest GmbH increased its position in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after acquiring an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.4%

NYSE ABBV opened at $192.32 on Friday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. 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 company has a market capitalization of $339.71 billion, a price-to-earnings ratio of 81.84, a price-to-earnings-growth ratio of 1.29 and a beta of 0.48. The company’s fifty day moving average price is $187.01 and its two-hundred day moving average price is $188.98.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. 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 3.41%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.