Coastline Trust Co Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

Coastline Trust Co decreased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,937 shares of the company's stock after selling 1,669 shares during the quarter. AbbVie makes up 1.0% of Coastline Trust Co's holdings, making the stock its 26th biggest position. Coastline Trust Co's holdings in AbbVie were worth $8,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH raised its stake in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in AbbVie in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen cut 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 given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Trading Down 0.5%

Shares of AbbVie stock traded down $1.02 on Thursday, reaching $189.73. The company had a trading volume of 1,561,391 shares, compared to its average volume of 6,230,316. The firm has a market cap of $335.14 billion, a PE ratio of 80.88, a PEG ratio of 1.26 and a beta of 0.48. 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 52-week low of $163.52 and a 52-week high of $218.66. The firm's 50 day moving average price is $187.12 and its two-hundred day moving average price is $188.23.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

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.