AbbVie Inc. (NYSE:ABBV) Shares Sold by Latitude Advisors LLC

by · The Cerbat Gem

Latitude Advisors LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,063 shares of the company’s stock after selling 291 shares during the quarter. AbbVie comprises approximately 1.5% of Latitude Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Latitude Advisors LLC’s holdings in AbbVie were worth $2,527,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABBV. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the period. Promus Capital LLC bought a new position in shares of AbbVie in the 4th quarter worth $30,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the 4th quarter worth $32,000. Siemens Fonds Invest GmbH lifted its holdings in shares of AbbVie by 197.6% in 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 in the last quarter. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie in the 4th quarter worth $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.4%

Shares of ABBV opened at $190.78 on Thursday. The business has a 50-day moving average of $187.12 and a 200 day moving average of $188.23. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm has a market cap of $336.99 billion, a P/E ratio of 81.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. 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 (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm posted $2.31 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.44%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 279.15%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABBV. Bank of America increased their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price on the stock. BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Morgan Stanley raised their price objective on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.29.

View Our Latest Analysis on AbbVie

About AbbVie

(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.

See Also

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