AbbVie Inc. (NYSE:ABBV) Stake Reduced by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,625 shares of the company's stock after selling 3,543 shares during the period. AbbVie comprises 0.8% of Tyche Wealth Partners LLC's investment portfolio, making the stock its 26th largest holding. Tyche Wealth Partners LLC's holdings in AbbVie were worth $3,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. EnRich Financial Partners LLC raised its stake in shares of 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 purchasing an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $32,000. Finally, Siemens Fonds Invest GmbH increased its holdings in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America increased their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Performance

NYSE:ABBV opened at $185.53 on Wednesday. The business has a 50 day moving average price of $185.46 and a 200-day moving average price of $187.82. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm has a market cap of $327.73 billion, a PE ratio of 78.95, a price-to-earnings-growth ratio of 1.22 and a beta of 0.50. 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 (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.31 EPS. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 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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