AbbVie Inc. (NYSE:ABBV) Shares Sold by MPS Loria Financial Planners LLC

MPS Loria Financial Planners LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 8.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 17,175 shares of the company’s stock after selling 1,497 shares during the quarter. AbbVie makes up 1.1% of MPS Loria Financial Planners LLC’s portfolio, making the stock its 10th biggest position. MPS Loria Financial Planners LLC’s holdings in AbbVie were worth $3,128,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $3,229,888,000. International Assets Investment Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth about $499,955,000. Capital International Investors grew its holdings in shares of AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after purchasing an additional 2,542,463 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in AbbVie by 39.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after purchasing an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABBV shares. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Piper Sandler increased their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Finally, Barclays cut their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Trading Up 1.5 %

Shares of ABBV stock traded up $2.53 during mid-day trading on Friday, reaching $171.52. 24,463,599 shares of the stock traded hands, compared to its average volume of 5,432,583. The stock’s fifty day simple moving average is $164.60 and its two-hundred day simple moving average is $167.54. AbbVie Inc. has a 1-year low of $132.13 and a 1-year high of $182.89. The company has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.61%. AbbVie’s payout ratio is currently 183.98%.

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.