U.S. Capital Wealth Advisors LLC Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

U.S. Capital Wealth Advisors LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 34.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 86,352 shares of the company's stock after selling 44,566 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in AbbVie were worth $18,093,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Vanguard Group Inc. boosted its holdings in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after acquiring an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC boosted its holdings in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors boosted its holdings in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after buying an additional 778,126 shares in the last quarter. Norges Bank purchased a new stake in AbbVie during the fourth quarter worth about $4,459,385,000. Finally, Northern Trust Corp boosted its holdings in AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after buying an additional 2,299,645 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 2.3%

ABBV stock traded up $4.34 on Thursday, hitting $194.96. 6,044,944 shares of the company were exchanged, compared to its average volume of 6,288,120. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The business's fifty day moving average is $187.10 and its two-hundred day moving average is $188.78. The stock has a market capitalization of $344.38 billion, a price-to-earnings ratio of 82.96, a price-to-earnings-growth ratio of 1.28 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. AbbVie's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts forecast 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. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.36%. AbbVie's dividend payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Bank of America boosted their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Citigroup boosted their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $211.29.

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.