AbbVie Inc. (NYSE:ABBV) Shares Sold by Weil Company Inc.

Weil Company Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 45.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,232 shares of the company's stock after selling 1,831 shares during the quarter. Weil Company Inc.'s holdings in AbbVie were worth $468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the period. Abound Financial LLC acquired a new position in shares of AbbVie during the first quarter worth about $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $32,000. Siemens Fonds Invest GmbH increased its stake 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 during the period. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 0.5%

Shares of AbbVie stock traded down $0.91 during trading hours on Monday, hitting $191.54. The company's stock had a trading volume of 279,908 shares, compared to its average volume of 6,288,054. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The business has a fifty day moving average of $187.01 and a 200 day moving average of $189.11. The company has a market capitalization of $338.34 billion, a PE ratio of 81.45, a P/E/G ratio of 1.28 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.42%. AbbVie's payout ratio is currently 279.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Morgan Stanley boosted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight equities research 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 company. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

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.