Florida Financial Advisors LLC Sells 198 Shares of AbbVie Inc. (NYSE:ABBV)

Florida Financial Advisors LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,773 shares of the company’s stock after selling 198 shares during the quarter. Florida Financial Advisors LLC’s holdings in AbbVie were worth $579,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% in 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. Abound Financial LLC purchased a new position in shares of AbbVie in the 1st quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie in the 4th quarter worth approximately $32,000. Siemens Fonds Invest GmbH grew its position in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in AbbVie during the 4th quarter worth approximately $36,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ABBV shares. Evercore ISI boosted their target price 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. Morgan Stanley boosted their target price 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. Citigroup boosted their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. 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 company’s stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

Shares of NYSE ABBV opened at $192.32 on Monday. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The firm has a market cap of $339.71 billion, a PE ratio of 81.84, a PEG ratio of 1.28 and a beta of 0.48. The firm has a fifty day moving average of $187.01 and a 200 day moving average of $189.11. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio is presently 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.