AbbVie Inc. (NYSE:ABBV) Shares Sold by Greenleaf Trust

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

A number of other large investors also recently bought and sold shares of the business. New Insight Wealth Advisors grew its stake in shares of AbbVie by 2.1% in the 1st quarter. New Insight Wealth Advisors now owns 4,144 shares of the company's stock valued at $868,000 after buying an additional 84 shares during the period. Silverlake Wealth Management LLC boosted its position in AbbVie by 9.0% during the 1st quarter. Silverlake Wealth Management LLC now owns 9,713 shares of the company's stock worth $2,035,000 after purchasing an additional 801 shares during the period. Trek Financial LLC raised its stake in AbbVie by 13.2% during the first quarter. Trek Financial LLC now owns 8,203 shares of the company's stock valued at $1,719,000 after buying an additional 955 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of AbbVie by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,084,031 shares of the company's stock worth $625,327,000 after purchasing an additional 29,149 shares during the period. Finally, OMNI 360 Wealth Inc. boosted its stake in AbbVie by 2.1% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,879 shares of the company's stock valued at $603,000 after purchasing an additional 59 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 1.4%

NYSE:ABBV traded down $2.68 during mid-day trading on Friday, hitting $192.32. 4,990,162 shares of the company's stock were exchanged, compared to its average volume of 6,292,533. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. 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 business has a fifty day moving average price of $187.13 and a 200 day moving average price of $188.90. The company has a market cap of $339.71 billion, a PE ratio of 81.84, a P/E/G ratio of 1.29 and a beta of 0.48.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Analyst Ratings Changes

A number of brokerages have weighed in on ABBV. Citigroup boosted their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Evercore ISI increased their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Cantor Fitzgerald assumed coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Finally, Morgan Stanley increased their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.