Lbp Am Sa Sells 6,085 Shares of AbbVie Inc. (NYSE:ABBV)

LBP AM SA trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,094 shares of the company's stock after selling 6,085 shares during the quarter. LBP AM SA's holdings in AbbVie were worth $33,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Steel Grove Capital Advisors LLC grew its position in shares of AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after buying an additional 52 shares during the last quarter. Peninsula Wealth LLC grew its position in shares of AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after buying an additional 54 shares during the last quarter. Connecticut Wealth Management LLC grew its position in shares of AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares during the last quarter. Castle Wealth Management LLC lifted its stake in shares of AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after purchasing an additional 57 shares during the period. Finally, Northstar Group Inc. boosted its position in shares of AbbVie by 0.7% during the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock valued at $1,783,000 after purchasing an additional 58 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America lifted their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Citigroup lifted their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. 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's stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

Shares of ABBV traded up $0.97 during trading hours on Wednesday, hitting $190.74. The stock had a trading volume of 5,593,883 shares, compared to its average volume of 6,280,869. 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 has a market capitalization of $336.92 billion, a PE ratio of 81.17, a PEG ratio of 1.25 and a beta of 0.48. The stock has a fifty day moving average price of $187.19 and a 200 day moving average price of $188.77.

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

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 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.