AbbVie Inc. (NYSE:ABBV) Shares Sold by Patrick Mauro Investment Advisor INC.

Patrick Mauro Investment Advisor INC. trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,918 shares of the company's stock after selling 2,480 shares during the period. AbbVie makes up 2.9% of Patrick Mauro Investment Advisor INC.'s investment portfolio, making the stock its 14th biggest holding. Patrick Mauro Investment Advisor INC.'s holdings in AbbVie were worth $5,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Steel Grove Capital Advisors LLC grew its holdings in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC boosted its holdings in AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after purchasing an additional 54 shares during the last quarter. Connecticut Wealth Management LLC grew its stake 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 valued at $660,000 after buying an additional 57 shares during the period. Castle Wealth Management LLC grew 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 buying an additional 57 shares during the period. Finally, Northstar Group Inc. increased its holdings in shares of AbbVie by 0.7% during the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after buying an additional 58 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 2.0%

NYSE:ABBV traded up $3.75 during mid-day trading on Wednesday, reaching $190.14. The stock had a trading volume of 2,177,566 shares, compared to its average volume of 6,303,708. AbbVie Inc. has a 1-year low of $163.81 and a 1-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 company has a market capitalization of $335.86 billion, a price-to-earnings ratio of 80.89, a price-to-earnings-growth ratio of 1.28 and a beta of 0.48. The stock's 50 day simple moving average is $186.90 and its two-hundred day simple moving average is $189.19.

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 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 firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current 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 paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research analyst reports. Citigroup increased their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Evercore ISI lifted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.