Four Tree Island Advisory LLC Sells 17,576 Shares of AbbVie Inc. (NYSE:ABBV)

Four Tree Island Advisory LLC trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 83.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,382 shares of the company's stock after selling 17,576 shares during the period. AbbVie comprises 0.5% of Four Tree Island Advisory LLC's investment portfolio, making the stock its 16th biggest position. Four Tree Island Advisory LLC's holdings in AbbVie were worth $709,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crestline Management LP lifted its stake in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after buying an additional 28,753 shares in the last quarter. Narus Financial Partners LLC lifted its stake in AbbVie by 25.3% in the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after purchasing an additional 401 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its stake in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares in the last quarter. Finally, AXA S.A. lifted its stake in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 1.1%

NYSE:ABBV traded down $2.03 on Friday, reaching $188.80. The stock had a trading volume of 1,116,307 shares, compared to its average volume of 6,860,479. The company has a market cap of $333.49 billion, a price-to-earnings ratio of 80.35, a P/E/G 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. The firm's fifty day moving average is $187.50 and its two-hundred day moving average is $189.62. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share 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 analysts' expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 EPS. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.47%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Evercore ISI lifted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Eight 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 stock. According to MarketBeat, AbbVie 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.