Rational Advisors Inc. Reduces Stake in AbbVie Inc. (NYSE:ABBV)

Rational Advisors Inc. lessened its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 41.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,847 shares of the company's stock after selling 1,318 shares during the quarter. Rational Advisors Inc.'s holdings in AbbVie were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Grant GrossMendelsohn LLC grew its stake in AbbVie by 1.7% in the 1st quarter. Grant GrossMendelsohn LLC now owns 7,753 shares of the company's stock valued at $1,491,000 after purchasing an additional 130 shares during the period. IFC Advisors LLC bought a new position in AbbVie in the 1st quarter valued at $549,000. MA Private Wealth bought a new position in AbbVie in the 1st quarter valued at $221,000. Callahan Advisors LLC lifted its position in shares of AbbVie by 11.9% during the 1st quarter. Callahan Advisors LLC now owns 5,728 shares of the company's stock valued at $1,200,000 after buying an additional 609 shares during the last quarter. Finally, Park Square Financial Group LLC lifted its position in shares of AbbVie by 19.0% during the 1st quarter. Park Square Financial Group LLC now owns 1,276 shares of the company's stock valued at $267,000 after buying an additional 204 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Down 1.4%

ABBV traded down $2.68 on Friday, hitting $192.32. 4,990,162 shares of the company were exchanged, compared to its average volume of 6,302,947. The firm has a fifty day simple moving average of $187.01 and a two-hundred day simple moving average of $188.98. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The stock has a market capitalization of $339.71 billion, a PE ratio of 81.84, a price-to-earnings-growth ratio of 1.29 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results 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 return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the company earned $2.31 EPS. AbbVie's revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm 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. This represents a $6.56 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Morgan Stanley increased their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Guggenheim increased their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus 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.