Souders Financial Advisors Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Souders Financial Advisors cut its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,690 shares of the company's stock after selling 5,385 shares during the period. Souders Financial Advisors' holdings in AbbVie were worth $2,449,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ABBV. EnRich Financial Partners LLC lifted its position 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 acquiring an additional 110 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie during the first quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth $32,000. Siemens Fonds Invest GmbH lifted its position in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares in the last quarter. Finally, Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie in the first quarter worth $35,000. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABBV shares. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley increased their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Evercore ISI increased their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Eight 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Trading Down 2.4%

Shares of AbbVie stock traded down $4.50 during trading on Monday, reaching $184.77. 4,953,329 shares of the stock were exchanged, compared to its average volume of 6,321,150. 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 stock's fifty day moving average is $187.17 and its 200 day moving average is $189.53. The firm has a market cap of $326.37 billion, a price-to-earnings ratio of 78.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

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 company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.55%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

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.