Telos Capital Management Inc. Lowers Stake in AbbVie Inc. (NYSE:ABBV)

Telos Capital Management Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,213 shares of the company's stock after selling 2,738 shares during the quarter. Telos Capital Management Inc.'s holdings in AbbVie were worth $4,235,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ABBV. Financial Gravity Asset Management Inc. bought a new position in AbbVie in the first quarter valued at approximately $59,000. Round Rock Advisors LLC increased its holdings in shares of AbbVie by 1.0% during the first quarter. Round Rock Advisors LLC now owns 20,508 shares of the company's stock worth $4,297,000 after purchasing an additional 210 shares during the period. Allworth Financial LP increased its holdings in shares of AbbVie by 3.5% during the first quarter. Allworth Financial LP now owns 149,025 shares of the company's stock worth $31,224,000 after purchasing an additional 5,006 shares during the period. Stonebrook Private Inc. increased its holdings in shares of AbbVie by 8.5% during the first quarter. Stonebrook Private Inc. now owns 3,550 shares of the company's stock worth $744,000 after purchasing an additional 278 shares during the period. Finally, Rock Point Advisors LLC bought a new position in AbbVie in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABBV. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Guggenheim lifted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Performance

Shares of ABBV stock traded down $2.68 during trading hours on Friday, reaching $192.32. The company had a trading volume of 4,990,162 shares, compared to its average volume of 6,311,659. The business has a fifty day moving average price of $187.01 and a 200-day moving average price of $188.98. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The firm has a market cap of $339.71 billion, a PE ratio of 81.84, a price-to-earnings-growth ratio of 1.29 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.

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 analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the firm posted $2.31 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict 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. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend 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 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.