AbbVie Inc. (NYSE:ABBV) Shares Sold by Buckley Wealth Management LLC

Buckley Wealth Management LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,079 shares of the company’s stock after selling 178 shares during the quarter. AbbVie comprises about 0.9% of Buckley Wealth Management LLC’s portfolio, making the stock its 24th biggest holding. Buckley Wealth Management LLC’s holdings in AbbVie were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Van Lanschot Kempen Investment Management N.V. raised its stake in shares of AbbVie by 1,053.0% during the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 22,091 shares of the company’s stock worth $3,293,000 after buying an additional 20,175 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in shares of AbbVie by 78.7% during the 3rd quarter. Morningstar Investment Services LLC now owns 5,078 shares of the company’s stock valued at $773,000 after buying an additional 2,236 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of AbbVie by 2.0% during the 3rd quarter. Ancora Advisors LLC now owns 327,437 shares of the company’s stock valued at $48,808,000 after buying an additional 6,432 shares during the last quarter. Ironwood Investment Counsel LLC boosted its stake in shares of AbbVie by 68.2% during the 3rd quarter. Ironwood Investment Counsel LLC now owns 10,653 shares of the company’s stock valued at $1,588,000 after buying an additional 4,320 shares during the last quarter. Finally, Caxton Associates LP raised its position in shares of AbbVie by 1.6% during the 3rd quarter. Caxton Associates LP now owns 17,532 shares of the company’s stock valued at $2,613,000 after acquiring an additional 276 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock traded down $2.16 during midday trading on Thursday, hitting $168.99. 4,960,941 shares of the company were exchanged, compared to its average volume of 5,520,492. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a market cap of $298.41 billion, a P/E ratio of 50.17, a PEG ratio of 2.18 and a beta of 0.60. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The firm has a 50 day simple moving average of $164.41 and a 200-day simple moving average of $167.29.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.67%. AbbVie’s payout ratio is 183.98%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. BMO Capital Markets dropped their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Finally, Barclays decreased their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

About AbbVie

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.