SFE Investment Counsel Has $4.48 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

SFE Investment Counsel decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 22.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,374 shares of the company's stock after selling 6,182 shares during the quarter. SFE Investment Counsel's holdings in AbbVie were worth $4,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Steel Grove Capital Advisors LLC raised its holdings in 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 raised its holdings in AbbVie by 4.1% during 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 period. Connecticut Wealth Management LLC raised its stake in AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares during the period. Castle Wealth Management LLC increased its stake in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after acquiring an additional 57 shares during the last quarter. Finally, Northstar Group Inc. increased its holdings in AbbVie by 0.7% in the first 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 Trading Down 0.3%

NYSE:ABBV traded down $0.61 during trading hours on Friday, hitting $190.22. 3,786,155 shares of the stock were exchanged, compared to its average volume of 6,461,288. The company's 50 day moving average is $187.62 and its two-hundred day moving average is $189.77. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $336.00 billion, a P/E ratio of 80.94, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 annualized dividend and a yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup increased their price target on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average 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.