AlphaStar Capital Management LLC Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

AlphaStar Capital Management LLC lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,454 shares of the company's stock after selling 8,579 shares during the quarter. AlphaStar Capital Management LLC's holdings in AbbVie were worth $5,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Abound Financial LLC bought a new position in shares of AbbVie during the 1st quarter valued at approximately $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie in the fourth quarter valued at $32,000. Siemens Fonds Invest GmbH grew its holdings in shares of AbbVie by 197.6% in the fourth 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 in the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in shares of AbbVie in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup raised their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. 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. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target for the company. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Trading Down 0.1%

AbbVie stock opened at $189.14 on Tuesday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a market capitalization of $334.10 billion, a price-to-earnings ratio of 80.03, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The stock has a 50-day moving average price of $187.27 and a 200 day moving average price of $188.76. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

AbbVie 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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