Annapolis Financial Services LLC Has $83,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Annapolis Financial Services LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 29.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454 shares of the company’s stock after selling 191 shares during the period. Annapolis Financial Services LLC’s holdings in AbbVie were worth $83,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lokken Investment Group LLC lifted its stake in shares of AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after acquiring an additional 58 shares during the last quarter. Aspen Wealth Strategies LLC lifted its stake in shares of AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares during the last quarter. Marks Group Wealth Management Inc lifted its stake in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after acquiring an additional 63 shares during the last quarter. Avion Wealth lifted its stake in shares of AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares during the last quarter. Finally, White Pine Capital LLC lifted its stake in shares of AbbVie by 1.2% during the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after acquiring an additional 65 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 1.5 %

ABBV stock traded up $2.53 on Friday, hitting $171.52. 24,463,599 shares of the company’s stock were exchanged, compared to its average volume of 5,432,583. AbbVie Inc. has a 12-month low of $132.13 and a 12-month high of $182.89. The firm has a 50 day moving average price of $164.60 and a two-hundred day moving average price of $167.54. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The stock has a market cap of $302.88 billion, a P/E ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the business earned $2.46 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.61%. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ABBV shares. BMO Capital Markets decreased their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Barclays reduced 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. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Piper Sandler raised their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

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.