AbbVie Inc. (NYSE:ABBV) Shares Sold by Blankinship & Foster LLC

Blankinship & Foster LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,419 shares of the company’s stock after selling 150 shares during the period. AbbVie makes up about 0.8% of Blankinship & Foster LLC’s investment portfolio, making the stock its 16th largest position. Blankinship & Foster LLC’s holdings in AbbVie were worth $3,231,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ABBV. Geode Capital Management LLC increased its stake in AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Capital Research Global Investors increased its stake in AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after purchasing an additional 778,126 shares in the last quarter. Norges Bank purchased a new position in AbbVie in the 4th quarter worth about $4,459,385,000. Northern Trust Corp increased its stake in AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after purchasing an additional 2,299,645 shares in the last quarter. Finally, FMR LLC increased its stake in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABBV. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target on the stock. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Citigroup raised their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Eight investment 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 company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Stock Up 1.2%

ABBV opened at $187.10 on Wednesday. The business has a 50 day moving average price of $187.17 and a 200 day moving average price of $189.53. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market cap of $330.49 billion, a P/E ratio of 79.62, a price-to-earnings-growth ratio of 1.22 and a beta of 0.48.

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

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.51%. AbbVie’s dividend payout ratio (DPR) is currently 279.15%.

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.