Leo Wealth LLC Sells 896 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Leo Wealth LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,263 shares of the company’s stock after selling 896 shares during the period. Leo Wealth LLC’s holdings in AbbVie were worth $4,245,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. EnRich Financial Partners LLC raised its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the period. Abound Financial LLC acquired a new stake in AbbVie during the 1st quarter valued at $30,000. Prudent Man Investment Management Inc. bought a new position in AbbVie during the fourth quarter worth $32,000. Siemens Fonds Invest GmbH raised its position in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie in the 4th quarter valued at about $36,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. Guggenheim upped their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley lifted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $211.29.

Get Our Latest Analysis on ABBV

AbbVie Stock Down 1.4%

Shares of ABBV opened at $192.32 on Monday. 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 52 week low of $163.81 and a 52 week high of $218.66. The stock has a market capitalization of $339.71 billion, a price-to-earnings ratio of 81.84, a PEG ratio of 1.28 and a beta of 0.48. The stock has a fifty day moving average of $187.01 and a 200-day moving average of $189.11.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data 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. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the business earned $2.31 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio is currently 279.15%.

AbbVie 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.

Further Reading

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