Copperwynd Financial LLC Sells 4,864 Shares of AbbVie Inc. (NYSE:ABBV)

Copperwynd Financial LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,297 shares of the company's stock after selling 4,864 shares during the quarter. Copperwynd Financial LLC's holdings in AbbVie were worth $481,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Steel Grove Capital Advisors LLC raised its position in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC raised its position in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares during the period. Connecticut Wealth Management LLC raised its position in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares during the period. Castle Wealth Management LLC raised its position in shares of AbbVie by 3.4% during the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after purchasing an additional 57 shares during the period. Finally, Northstar Group Inc. raised its position in shares of AbbVie by 0.7% during the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after purchasing an additional 58 shares during the period. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ABBV shares. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Morgan Stanley boosted their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Bank of America upped their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price on the stock. Finally, Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Price Performance

Shares of ABBV traded down $2.14 during midday trading on Friday, hitting $189.26. The company's stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,326,641. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company's fifty day simple moving average is $187.17 and its two-hundred day simple moving average is $189.46. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $334.31 billion, a price-to-earnings ratio of 80.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share 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 company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the business posted $2.31 EPS. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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 issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend 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.