Slocum Gordon & Co LLP Sells 16,917 Shares of AbbVie Inc. (NYSE:ABBV)

Slocum Gordon & Co LLP lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 44.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,400 shares of the company's stock after selling 16,917 shares during the period. AbbVie accounts for 3.3% of Slocum Gordon & Co LLP's portfolio, making the stock its 11th largest holding. Slocum Gordon & Co LLP's holdings in AbbVie were worth $4,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC acquired a new position in AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $31,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $32,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of AbbVie during the 4th quarter worth $36,000. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 0.9%

NYSE:ABBV traded up $1.67 during mid-day trading on Thursday, hitting $187.06. The company had a trading volume of 5,728,909 shares, compared to its average volume of 6,227,638. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm has a market cap of $330.42 billion, a P/E ratio of 79.60, a P/E/G ratio of 1.23 and a beta of 0.50. The business's fifty day moving average is $185.74 and its two-hundred day moving average is $187.81.

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

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on ABBV. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Guggenheim lifted 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. Wells Fargo & Company boosted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Finally, Bank of America upped their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.29.

About AbbVie

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.