Schiavi & Co LLC Sells 353 Shares of AbbVie Inc. (NYSE:ABBV)

Schiavi & Co LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 10.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,193 shares of the company’s stock after selling 353 shares during the quarter. AbbVie makes up about 0.2% of Schiavi & Co LLC’s investment portfolio, making the stock its 13th biggest position. Schiavi & Co LLC’s holdings in AbbVie were worth $669,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Abound Financial LLC bought a new position in shares of AbbVie during the first quarter valued at $30,000. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the first quarter valued at $35,000. Pinney & Scofield Inc. bought a new position in shares of AbbVie during the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie during the first quarter valued at $42,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ABBV shares. Guggenheim raised their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. 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 note on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Finally, Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.81.

AbbVie Trading Up 3.3%

NYSE:ABBV opened at $195.17 on Friday. 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 stock has a market capitalization of $344.75 billion, a price-to-earnings ratio of 92.94, a PEG ratio of 1.25 and a beta of 0.50. The firm has a fifty day simple moving average of $188.33 and a two-hundred day simple moving average of $190.17. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.65 earnings per share. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) 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.