VeraBank N.A. Sells 159 Shares of AbbVie Inc. (NYSE:ABBV)

VeraBank N.A. decreased its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,943 shares of the company’s stock after selling 159 shares during the quarter. VeraBank N.A.’s holdings in AbbVie were worth $2,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie during the fourth quarter worth about $26,000. Able Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth approximately $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the first quarter valued at approximately $36,000. Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie during the fourth quarter valued at approximately $37,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of AbbVie in the 1st quarter worth $37,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABBV shares. Piper Sandler reiterated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Tuesday, July 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Tuesday. BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Wednesday, June 5th. Finally, Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

Read Our Latest Stock Report on ABBV

AbbVie Price Performance

Shares of NYSE:ABBV traded up $0.09 during trading on Wednesday, hitting $168.14. 3,837,226 shares of the company’s stock were exchanged, compared to its average volume of 5,619,299. The business’s 50-day simple moving average is $164.92 and its 200 day simple moving average is $168.27. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 52-week low of $132.70 and a 52-week high of $182.89. The company has a market cap of $296.91 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 2.26 and a beta of 0.64.

AbbVie (NYSE:ABBVGet Free Report) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 10.61 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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