Avantax Planning Partners Inc. Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Avantax Planning Partners Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,019 shares of the company's stock after selling 3,305 shares during the quarter. Avantax Planning Partners Inc.'s holdings in AbbVie were worth $11,947,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares during the period. Promus Capital LLC purchased a new position in shares of AbbVie during the 4th quarter worth $30,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $32,000. Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new position in AbbVie during the first quarter valued at $42,000. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.7%

Shares of NYSE ABBV opened at $189.50 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. AbbVie Inc. has a 12-month low of $163.63 and a 12-month high of $218.66. The firm's 50-day moving average price is $187.30 and its 200-day moving average price is $188.36. The stock has a market capitalization of $334.73 billion, a price-to-earnings ratio of 80.64, a P/E/G ratio of 1.27 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $13.34 billion for 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%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

A number of analysts have commented on ABBV shares. Citigroup upped 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 raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Bank of America upped their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

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.

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