AbbVie Inc. (NYSE:ABBV) Shares Sold by Motco

Key Points

• Motco reduced its holdings in AbbVie Inc. by 8.6%, selling 1,914 shares, which leaves them with 20,445 shares valued at approximately $4.28 million.
• Multiple institutional investors have increased their positions in AbbVie, with the total institutional ownership now at 70.23%.
• AbbVie recently announced a quarterly dividend of $1.64 per share, which reflects an annual yield of 3.45% and a high dividend payout ratio of 279.15%.

Motco trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,445 shares of the company's stock after selling 1,914 shares during the period. Motco's holdings in AbbVie were worth $4,284,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Steel Grove Capital Advisors LLC boosted its position in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after buying an additional 52 shares during the period. Peninsula Wealth LLC boosted its position in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after buying an additional 54 shares during the period. Private Management Group Inc. boosted its position in shares of AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after buying an additional 54 shares during the period. Connecticut Wealth Management LLC boosted its position in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares during the period. Finally, Castle Wealth Management LLC boosted its position in shares of AbbVie by 3.4% during the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after buying an additional 57 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ABBV shares. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. 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. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Performance

Shares of AbbVie stock opened at $190.22 on Friday. The company's 50 day moving average price is $187.62 and its two-hundred day moving average price is $189.70. The firm has a market capitalization of $336.00 billion, a P/E ratio of 80.94, a P/E/G ratio of 1.27 and a beta of 0.48. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for 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%. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.45%. AbbVie's dividend payout ratio is currently 279.15%.

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.

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