Hager Investment Management Services LLC Lowers Position in AbbVie Inc. (NYSE:ABBV)

Hager Investment Management Services LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 5,000 shares of the company’s stock after selling 56 shares during the quarter. Hager Investment Management Services LLC’s holdings in AbbVie were worth $1,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in AbbVie by 50.8% in the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company’s stock worth $1,177,000 after acquiring an additional 2,230 shares in the last quarter. Harbour Investments Inc. boosted its holdings in AbbVie by 3.5% in the fourth quarter. Harbour Investments Inc. now owns 22,958 shares of the company’s stock worth $4,080,000 after acquiring an additional 780 shares in the last quarter. Finally, GLOBALT Investments LLC GA boosted its holdings in AbbVie by 20.8% in the fourth quarter. GLOBALT Investments LLC GA now owns 23,138 shares of the company’s stock worth $4,112,000 after acquiring an additional 3,982 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.5%

ABBV stock opened at $191.54 on Tuesday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The business’s 50-day moving average is $186.92 and its two-hundred day moving average is $189.21. 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 company has a market cap of $338.33 billion, a price-to-earnings ratio of 81.50, a P/E/G ratio of 1.28 and a beta of 0.48.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS 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 for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 279.15%.

Analyst Upgrades and Downgrades

Several research firms have commented on ABBV. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Finally, Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Eight 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Company 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.