AbbVie Inc. (NYSE:ABBV) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 157,488 shares of the company's stock after selling 25,234 shares during the quarter. Alps Advisors Inc.'s holdings in AbbVie were worth $32,997,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. EnRich Financial Partners LLC increased its stake in shares of AbbVie by 196.4% in 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 in the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie in the first quarter valued at approximately $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $32,000. Siemens Fonds Invest GmbH raised its stake 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 buying an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley upped their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Guggenheim boosted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Trading Down 1.4%

Shares of NYSE ABBV traded down $2.68 during midday trading on Friday, reaching $192.32. 4,990,162 shares of the stock were exchanged, compared to its average volume of 6,311,659. The stock has a market capitalization of $339.71 billion, a P/E ratio of 81.84, a PEG ratio of 1.28 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. The company has a 50 day simple moving average of $187.01 and a 200 day simple moving average of $189.11. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its 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 company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. 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 presently 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.