AbbVie Inc. (NYSE:ABBV) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 30.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,447 shares of the company’s stock after selling 1,091 shares during the quarter. Cable Hill Partners LLC’s holdings in AbbVie were worth $481,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Crestline Management LP lifted its position in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after acquiring an additional 28,753 shares during the period. Narus Financial Partners LLC grew its stake in shares of AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after buying an additional 401 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after buying an additional 108,993 shares during the period. Quantbot Technologies LP boosted its position in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after purchasing an additional 276 shares during the period. Finally, AXA S.A. boosted its position in AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after purchasing an additional 125,568 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Stock Down 2.6%

ABBV stock opened at $186.56 on Wednesday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a market cap of $329.53 billion, a price-to-earnings ratio of 79.39, a PEG ratio of 1.28 and a beta of 0.48. The company has a 50 day moving average of $186.90 and a two-hundred day moving average of $189.19.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for 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%. AbbVie’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.52%. AbbVie’s dividend payout ratio is currently 279.15%.

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.