Brown Advisory Inc. Sells 2,007 Shares of AbbVie Inc. (NYSE:ABBV)

Brown Advisory Inc. trimmed its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 838,653 shares of the company's stock after selling 2,007 shares during the quarter. Brown Advisory Inc.'s holdings in AbbVie were worth $175,715,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the period. Geode Capital Management LLC raised its position in AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after acquiring an additional 983,888 shares during the period. Capital Research Global Investors raised its position in AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after acquiring an additional 778,126 shares during the period. Norges Bank bought a new stake in AbbVie in the fourth quarter worth about $4,459,385,000. Finally, Northern Trust Corp raised its position in AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after acquiring an additional 2,299,645 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 1.0%

Shares of AbbVie stock traded up $1.97 during trading on Tuesday, reaching $189.60. The company's stock had a trading volume of 5,523,941 shares, compared to its average volume of 6,272,525. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The company has a market cap of $334.91 billion, a price-to-earnings ratio of 80.68, a PEG ratio of 1.26 and a beta of 0.48. The firm's 50-day moving average is $187.27 and its two-hundred day moving average is $188.76. 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 announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 annualized dividend and a yield of 3.46%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Analysts Set New Price Targets

Several analysts have commented on the stock. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Finally, Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eight equities research 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. Based on data from MarketBeat.com, the stock 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.