AbbVie Inc. (NYSE:ABBV) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its holdings in AbbVie Inc. by 1.5% in Q1, owning approximately 2.47 million shares valued at $517.55 million.
• AbbVie's stock price increased by 3.3% to $195.17, with a market cap of $344.75 billion and a 1-year trading range of $163.81 to $218.66.
• The company declared a quarterly dividend of $1.64 per share, representing an annualized dividend yield of 3.4%, with a dividend payout ratio of 279.15%.

US Bancorp DE trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,470,175 shares of the company's stock after selling 38,590 shares during the quarter. US Bancorp DE owned about 0.14% of AbbVie worth $517,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Abound Financial LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $30,000. 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 during the period. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 3.3%

Shares of ABBV traded up $6.15 during midday trading on Friday, reaching $195.17. The stock had a trading volume of 8,081,230 shares, compared to its average volume of 5,440,562. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company's fifty day simple moving average is $188.33 and its two-hundred day simple moving average is $190.17. The company has a market cap of $344.75 billion, a price-to-earnings ratio of 92.94, a PEG ratio of 1.25 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared 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 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Morgan Stanley boosted their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Guggenheim upped their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday. 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 an average target price of $212.81.

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.