XML Financial LLC Has $2.45 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

XML Financial LLC cut its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,670 shares of the company's stock after selling 2,528 shares during the period. XML Financial LLC's holdings in AbbVie were worth $2,445,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Brown Lisle Cummings Inc. grew its stake in shares of AbbVie by 0.6% in the 1st quarter. Brown Lisle Cummings Inc. now owns 28,219 shares of the company's stock valued at $5,912,000 after buying an additional 181 shares during the period. HWG Holdings LP bought a new position in AbbVie in the 1st quarter valued at about $42,000. FMA Wealth Management LLC bought a new position in AbbVie in the 1st quarter valued at about $205,000. TrueMark Investments LLC lifted its position in AbbVie by 68.9% in the 1st quarter. TrueMark Investments LLC now owns 50,237 shares of the company's stock valued at $10,526,000 after acquiring an additional 20,486 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its position in AbbVie by 34.9% in the 1st quarter. Duncker Streett & Co. Inc. now owns 60,148 shares of the company's stock valued at $12,602,000 after acquiring an additional 15,559 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ABBV shares. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Guggenheim raised their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Evercore ISI raised their price target 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. Finally, Morgan Stanley raised their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is owned by company insiders.

AbbVie Price Performance

AbbVie stock opened at $185.16 on Monday. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The business's 50 day simple moving average is $185.19 and its 200 day simple moving average is $187.78. The company has a market cap of $327.06 billion, a price-to-earnings ratio of 78.79, a PEG ratio of 1.23 and a beta of 0.50.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.54%. AbbVie's payout ratio is 279.15%.

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.

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