AbbVie Inc. $ABBV Shares Sold by Stephens Inc. AR

Stephens Inc. AR decreased its stake in AbbVie Inc. (NYSE:ABBV) by 5.6% during the 1st quarter, HoldingsChannel reports. The firm owned 142,021 shares of the company’s stock after selling 8,371 shares during the period. Stephens Inc. AR’s holdings in AbbVie were worth $30,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new position in AbbVie during the 3rd quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $28,000. Westend Capital Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at approximately $29,000. Imprint Wealth LLC raised its holdings in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX acquired a new stake in AbbVie in the third quarter worth approximately $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ABBV shares. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of AbbVie in a report on Tuesday, June 23rd. Evercore set a $235.00 price target on shares of AbbVie in a research report on Friday, May 15th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.81.

AbbVie Stock Down 0.1%

ABBV opened at $260.88 on Monday. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64. The firm has a market capitalization of $460.92 billion, a P/E ratio of 128.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. The stock’s 50 day moving average price is $220.19 and its two-hundred day moving average price is $220.25.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same period in the prior year, the business earned $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 14.28 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s dividend payout ratio is 340.89%.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.