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

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new position in shares of AbbVie in the 1st quarter valued at approximately $30,000. EnRich Financial Partners LLC lifted its holdings in shares of AbbVie by 196.4% during the fourth 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 period. Prudent Man Investment Management Inc. purchased a new position in AbbVie in the 4th quarter valued at $32,000. Pinney & Scofield Inc. acquired a new position in AbbVie in the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in AbbVie in the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ABBV shares. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. 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 objective for the company. Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Citigroup raised their price target on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Price Performance

Shares of AbbVie stock traded down $2.68 during trading on Friday, hitting $192.32. 4,990,162 shares of the company were exchanged, compared to its average volume of 6,302,947. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week 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 firm has a 50 day moving average price of $187.01 and a 200 day moving average price of $188.98. The stock has a market capitalization of $339.71 billion, a price-to-earnings ratio of 81.84, a P/E/G ratio of 1.29 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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 business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

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.