Nicholas Hoffman & Company LLC. Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Nicholas Hoffman & Company LLC. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,231 shares of the company’s stock after selling 650 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in AbbVie were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Crestline Management LP lifted its position in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after acquiring an additional 28,753 shares during the period. Narus Financial Partners LLC lifted its position in AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock worth $417,000 after acquiring an additional 401 shares during the period. Dimensional Fund Advisors LP lifted its position in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after acquiring an additional 108,993 shares during the period. AXA S.A. lifted 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 acquiring an additional 125,568 shares during the period. Finally, Highland Capital Management LLC lifted its holdings in shares of AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after buying an additional 2,792 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $198.53 on Wednesday. The stock’s fifty day moving average is $188.86 and its two-hundred day moving average is $190.65. The firm has a market capitalization of $350.68 billion, a P/E ratio of 94.54, a price-to-earnings-growth ratio of 1.26 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week 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 for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.65 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio is presently 312.38%.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Bank of America boosted their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Citigroup boosted their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Guggenheim boosted their price objective on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Morgan Stanley upped their price target on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $212.81.

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.