Avantax Planning Partners Inc. Sells 3,305 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Avantax Planning Partners Inc. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 5.5% in the first quarter, Holdings Channel.com reports. The fund owned 57,019 shares of the company’s stock after selling 3,305 shares during the quarter. Avantax Planning Partners Inc.’s holdings in AbbVie were worth $11,947,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABBV. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Prudent Man Investment Management Inc. bought a new position in AbbVie in the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH increased its holdings in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. purchased a new position in AbbVie during the 4th quarter worth $36,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $189.50 on Friday. The company has a market cap of $334.73 billion, a P/E ratio of 80.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.48. 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 firm’s 50-day moving average price is $187.30 and its 200-day moving average price is $188.36. AbbVie Inc. has a 52-week low of $163.63 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.46%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. Eight equities 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 stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Check Out Our Latest Stock Analysis on ABBV

AbbVie Company Profile

(Free Report)

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.

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