AbbVie Inc. (NYSE:ABBV) Stock Holdings Lessened by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 14.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,736 shares of the company's stock after selling 4,799 shares during the period. AbbVie comprises approximately 0.2% of Perfromance Wealth Partners LLC's holdings, making the stock its 26th largest position. Perfromance Wealth Partners LLC's holdings in AbbVie were worth $6,021,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Crestline Management LP lifted its stake in AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after acquiring an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after buying an additional 108,993 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after acquiring an additional 276 shares in the last quarter. AXA S.A. boosted its stake in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group raised its stake in shares of AbbVie by 0.9% in the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company's stock valued at $3,190,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 0.2%

Shares of ABBV opened at $185.16 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock has a market cap of $327.06 billion, a PE ratio of 78.79, a PEG ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The stock has a 50 day simple moving average of $185.19 and a 200-day simple moving average of $187.63.

AbbVie (NYSE:ABBV - Get Free Report) last released 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 return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the company posted $2.31 earnings per share. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend yield of 3.54%. AbbVie's payout ratio is 279.15%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABBV. Citigroup upped their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Guggenheim raised their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Finally, Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eight 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $211.29.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

About AbbVie

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.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.