First Dallas Securities Inc. Has $876,000 Stock Position in AbbVie Inc. $ABBV

First Dallas Securities Inc. cut its stake in AbbVie Inc. (NYSE:ABBV) by 75.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,027 shares of the company’s stock after selling 12,199 shares during the period. First Dallas Securities Inc.’s holdings in AbbVie were worth $876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new position in shares of AbbVie in the 3rd quarter worth approximately $26,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $28,000. Imprint Wealth LLC raised its stake in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the last quarter. Westend Capital Management LLC bought a new position in AbbVie during the fourth quarter worth $29,000. Finally, IFC & Insurance Marketing Inc. acquired a new position in AbbVie in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ABBV shares. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a report on Tuesday, June 23rd. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. William Blair reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $253.81.

AbbVie Price Performance

ABBV opened at $260.88 on Friday. AbbVie Inc. has a fifty-two week low of $184.63 and a fifty-two week high of $261.64. The firm has a market capitalization of $460.92 billion, a PE ratio of 128.51, a P/E/G ratio of 0.86 and a beta of 0.30. The company’s 50-day moving average is $220.19 and its 200 day moving average is $220.30.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. As a group, analysts expect that AbbVie Inc. will post 14.28 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie’s payout ratio is presently 340.89%.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.