AbbVie Inc. (NYSE:ABBV) Stock Position Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,573 shares of the company's stock after purchasing an additional 6,978 shares during the period. Sequoia Financial Advisors LLC's holdings in AbbVie were worth $16,043,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in AbbVie during the fourth quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $32,000. Siemens Fonds Invest GmbH raised its stake 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 valued at $32,000 after acquiring an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

ABBV stock traded down $4.90 during midday trading on Friday, reaching $181.89. The company had a trading volume of 29,262,557 shares, compared to its average volume of 6,318,617. The firm has a market capitalization of $321.29 billion, a PE ratio of 77.40, a P/E/G ratio of 1.23 and a beta of 0.50. The stock has a 50 day moving average price of $186.03 and a 200 day moving average price of $187.88. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 EPS. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.61%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. Guggenheim increased their price target on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Bank of America upped their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Finally, Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target 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.