Greenleaf Trust Sells 3,237 Shares of AbbVie Inc. (NYSE:ABBV)

Greenleaf Trust cut its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,295 shares of the company's stock after selling 3,237 shares during the quarter. Greenleaf Trust's holdings in AbbVie were worth $22,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the period. Abound Financial LLC purchased a new stake in shares of AbbVie in the first quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth about $32,000. Siemens Fonds Invest GmbH boosted its position in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after buying an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth about $36,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 2.3%

Shares of AbbVie stock traded up $4.42 during midday trading on Thursday, reaching $195.04. 2,165,638 shares of the company's stock traded hands, compared to its average volume of 7,023,719. The company has a market cap of $344.51 billion, a price-to-earnings ratio of 83.06, a price-to-earnings-growth ratio of 1.28 and a beta of 0.48. The company's 50 day simple moving average is $187.10 and its 200 day simple moving average is $188.78. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 52 week low of $163.81 and a 52 week 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 EPS 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 company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm posted $2.31 earnings per share. The company's quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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 3.36%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ABBV shares. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Guggenheim upped their price objective 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. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Eight investment 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Company 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.