Sigma Investment Counselors Inc. Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Sigma Investment Counselors Inc. cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,529 shares of the company's stock after selling 2,463 shares during the quarter. Sigma Investment Counselors Inc.'s holdings in AbbVie were worth $7,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Vanguard Group Inc. grew its holdings in AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the period. Geode Capital Management LLC lifted its position in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors lifted its position in shares of AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after buying an additional 778,126 shares in the last quarter. Norges Bank bought a new stake in AbbVie during the fourth quarter worth approximately $4,459,385,000. Finally, Northern Trust Corp increased its stake in AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after acquiring an additional 2,299,645 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

ABBV stock traded up $0.97 during midday trading on Wednesday, reaching $190.74. The stock had a trading volume of 5,593,883 shares, compared to its average volume of 6,289,094. The stock has a market cap of $336.92 billion, a PE ratio of 81.17, a P/E/G ratio of 1.28 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a fifty day simple moving average of $187.19 and a two-hundred day simple moving average of $188.77. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Morgan Stanley increased their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Guggenheim increased their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Eight investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.