International Assets Investment Management LLC Has $4.05 Million Position in AbbVie Inc. (NYSE:ABBV)

International Assets Investment Management LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,342 shares of the company's stock after selling 1,905 shares during the period. International Assets Investment Management LLC's holdings in AbbVie were worth $4,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. EnRich Financial Partners LLC boosted its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $31,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at about $32,000. Finally, Pinney & Scofield Inc. bought a new position in AbbVie during the 4th quarter worth approximately $36,000. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV traded up $0.09 during trading hours on Wednesday, hitting $185.64. The company had a trading volume of 4,469,960 shares, compared to its average volume of 6,224,161. The firm has a market cap of $327.91 billion, a price-to-earnings ratio of 79.00, a PEG ratio of 1.22 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The business has a fifty day moving average of $185.46 and a 200-day moving average of $187.82. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.53%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Guggenheim lifted their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.