Financial Sense Advisors Inc. Has $1.06 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Financial Sense Advisors Inc. reduced its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 70.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,075 shares of the company's stock after selling 11,875 shares during the quarter. Financial Sense Advisors Inc.'s holdings in AbbVie were worth $1,063,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Oakwell Private Wealth Management LLC bought a new position in AbbVie during the first quarter worth about $211,000. PFG Advisors lifted its stake in AbbVie by 17.8% during the first quarter. PFG Advisors now owns 26,341 shares of the company's stock worth $5,519,000 after purchasing an additional 3,972 shares during the period. Ignite Planners LLC lifted its stake in AbbVie by 9.5% during the first quarter. Ignite Planners LLC now owns 4,818 shares of the company's stock worth $931,000 after purchasing an additional 418 shares during the period. Obermeyer Wealth Partners lifted its stake in AbbVie by 2.7% during the first quarter. Obermeyer Wealth Partners now owns 23,809 shares of the company's stock worth $4,988,000 after purchasing an additional 617 shares during the period. Finally, Windle Wealth LLC lifted its stake in AbbVie by 4.4% during the first quarter. Windle Wealth LLC now owns 42,823 shares of the company's stock worth $8,972,000 after purchasing an additional 1,801 shares during the period. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of AbbVie stock traded up $0.13 during midday trading on Thursday, reaching $190.68. The company had a trading volume of 1,873,534 shares, compared to its average volume of 6,890,424. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $336.81 billion, a price-to-earnings ratio of 81.21, a price-to-earnings-growth ratio of 1.24 and a beta of 0.48. The stock has a fifty day simple moving average of $187.31 and a 200 day simple moving average of $189.55. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the business posted $2.31 earnings per share. AbbVie's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ABBV shares. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Finally, Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Eight equities 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $211.29.

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.