AbbVie Inc. (NYSE:ABBV) Shares Sold by Integrated Investment Consultants LLC

Key Points

• Integrated Investment Consultants LLC reduced its holdings in AbbVie Inc. by 90.6%, selling 161,010 shares and leaving it with 16,729 shares valued at $3,505,000.
• Institutional investors now own 70.23% of AbbVie's stock, while several other hedge funds have modified their positions in the company with notable increases.
• AbbVie announced a quarterly dividend of $1.64 per share, which results in an annualized yield of 3.45% and reflects a dividend payout ratio of 279.15%.

Integrated Investment Consultants LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 90.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,729 shares of the company's stock after selling 161,010 shares during the period. Integrated Investment Consultants LLC's holdings in AbbVie were worth $3,505,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Steel Grove Capital Advisors LLC lifted its position in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares in the last quarter. Peninsula Wealth LLC lifted its position in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares in the last quarter. Private Management Group Inc. lifted its position in shares of AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after purchasing an additional 54 shares in the last quarter. Connecticut Wealth Management LLC lifted its position in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares in the last quarter. Finally, Castle Wealth Management LLC lifted its position in shares of AbbVie by 3.4% during the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after purchasing an additional 57 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV traded up $3.79 on Tuesday, reaching $192.31. The company had a trading volume of 2,709,169 shares, compared to its average volume of 6,828,040. The company has a fifty day moving average of $187.68 and a 200-day moving average of $189.94. The company has a market capitalization of $339.70 billion, a P/E ratio of 81.81, a PEG ratio of 1.25 and a beta of 0.48. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66.

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

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.41%. AbbVie's dividend payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.