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Rice Partnership LLC Sells 2,462 Shares of AbbVie Inc. (NYSE:ABBV)

AbbVie logo with Medical background

Rice Partnership LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 55.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,966 shares of the company's stock after selling 2,462 shares during the quarter. Rice Partnership LLC's holdings in AbbVie were worth $412,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ABBV. EnRich Financial Partners LLC raised its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $32,000. Siemens Fonds Invest GmbH raised its position in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $36,000. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 1.0%

Shares of NYSE:ABBV traded down $1.84 during trading on Monday, hitting $187.44. 10,162,022 shares of the company were exchanged, compared to its average volume of 6,269,187. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock has a market cap of $331.09 billion, a price-to-earnings ratio of 79.76, a P/E/G ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a fifty day moving average price of $187.37 and a two-hundred day moving average price of $188.68.

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

AbbVie Dividend Announcement

The firm also recently announced 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 dividend yield of 3.50%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABBV shares. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. 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. 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. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

Get Our Latest Stock Report on ABBV

AbbVie Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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