AbbVie Inc. (NYSE:ABBV) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. decreased its position in AbbVie Inc. (NYSE:ABBV) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,173 shares of the company’s stock after selling 780 shares during the quarter. Gold Investment Management Ltd.’s holdings in AbbVie were worth $2,217,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC purchased a new stake in AbbVie during the 4th quarter worth about $26,000. Able Wealth Management LLC bought a new position in AbbVie during the 4th quarter worth $33,000. IFS Advisors LLC bought a new position in shares of AbbVie in the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of AbbVie during the first quarter valued at $37,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABBV. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Piper Sandler restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Tuesday, July 2nd. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets dropped their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.07.

AbbVie Stock Performance

ABBV stock traded up $0.09 on Wednesday, hitting $168.14. The company had a trading volume of 3,837,226 shares, compared to its average volume of 5,619,299. The stock’s 50-day simple moving average is $164.92 and its 200 day simple moving average is $168.27. The stock has a market cap of $296.91 billion, a price-to-earnings ratio of 49.89, a P/E/G ratio of 2.26 and a beta of 0.64. AbbVie Inc. has a 12-month low of $132.70 and a 12-month high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 10.61 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.69%. AbbVie’s dividend payout ratio is currently 183.98%.

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.