AbbVie Inc. (NYSE:ABBV) Shares Sold by Schnieders Capital Management LLC

by · The Cerbat Gem

Schnieders Capital Management LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 6.9% in the first quarter, HoldingsChannel.com reports. The fund owned 15,677 shares of the company’s stock after selling 1,154 shares during the quarter. Schnieders Capital Management LLC’s holdings in AbbVie were worth $3,285,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC raised its holdings in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the period. Abound Financial LLC acquired a new position in AbbVie in the 1st quarter worth about $30,000. Siemens Fonds Invest GmbH raised its holdings in 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 during the period. Cypress Capital Management LLC WY acquired a new position in AbbVie in the 1st quarter worth about $35,000. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Raymond James Financial upped their price target on AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Citigroup increased their target price on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Finally, Guggenheim increased their target price on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.81.

Get Our Latest Research Report on ABBV

AbbVie Trading Up 0.7%

ABBV opened at $198.53 on Wednesday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The business has a fifty day simple moving average of $188.86 and a 200-day simple moving average of $190.65. The firm has a market cap of $350.68 billion, a P/E ratio of 94.54, a P/E/G ratio of 1.26 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the prior year, the business earned $2.65 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

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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