AbbVie Inc. (NYSE:ABBV) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 11.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,555 shares of the company's stock after selling 1,801 shares during the quarter. Forte Capital LLC ADV's holdings in AbbVie were worth $3,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Abound Financial LLC purchased a new stake in AbbVie during the first quarter worth $30,000. EnRich Financial Partners LLC boosted its holdings in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the fourth quarter worth $32,000. Pinney & Scofield Inc. purchased a new stake in AbbVie during the fourth 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 and hedge funds own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABBV. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. 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. Finally, BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Eight 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Down 1.1%

Shares of NYSE:ABBV traded down $2.14 during trading on Friday, hitting $189.26. 5,331,983 shares of the company were exchanged, compared to its average volume of 6,317,072. The stock has a market capitalization of $334.31 billion, a P/E ratio of 80.54, a PEG ratio of 1.26 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The firm's 50 day moving average price is $187.07 and its 200-day moving average price is $189.30.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 EPS. On average, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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