AbbVie Inc. (NYSE:ABBV) Shares Sold by DDD Partners LLC

DDD Partners LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,523 shares of the company's stock after selling 12,822 shares during the quarter. AbbVie accounts for 2.9% of DDD Partners LLC's portfolio, making the stock its 10th largest holding. DDD Partners LLC's holdings in AbbVie were worth $23,576,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC lifted its position in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after acquiring an additional 3,064 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of AbbVie by 50.8% during the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock valued at $1,177,000 after acquiring an additional 2,230 shares during the period. Curio Wealth LLC bought a new position in shares of AbbVie during the fourth quarter valued at $59,000. Finally, Aspen Wealth Strategies LLC lifted its holdings in shares of AbbVie by 2.8% during the fourth quarter. Aspen Wealth Strategies LLC now owns 10,306 shares of the company's stock valued at $1,831,000 after acquiring an additional 277 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 1.1%

ABBV stock traded down $2.14 during midday trading on Friday, reaching $189.26. The stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,318,509. The business has a fifty day simple moving average of $187.17 and a two-hundred day simple moving average of $189.38. 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 firm has a market cap of $334.31 billion, a price-to-earnings ratio of 80.54, a PEG ratio of 1.27 and a beta of 0.48. 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 announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company's revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.31 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.47%. AbbVie's payout ratio is 279.15%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABBV. Citigroup lifted their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Morgan Stanley lifted their price objective on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Eight research 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.