AbbVie Inc. $ABBV Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,699 shares of the company’s stock after selling 5,148 shares during the quarter. Hodges Capital Management Inc.’s holdings in AbbVie were worth $5,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Bank of Jackson Hole Trust grew its position in shares of AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock valued at $1,648,000 after buying an additional 44 shares during the last quarter. Eclectic Associates Inc. ADV lifted its position in AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after acquiring an additional 45 shares during the last quarter. Imprint Wealth LLC boosted its stake in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Hardin Capital Partners LLC grew its holdings in shares of AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after purchasing an additional 46 shares during the last quarter. Finally, Dogwood Wealth Management LLC grew its holdings in shares of AbbVie by 10.8% during the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Canaccord Genuity Group lifted their price target on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. William Blair reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of AbbVie in a report on Tuesday, June 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $253.81.

AbbVie Stock Down 0.1%

Shares of ABBV stock opened at $260.88 on Monday. The stock has a market capitalization of $460.92 billion, a PE ratio of 128.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64. The stock’s 50-day moving average price is $220.19 and its 200 day moving average price is $220.25.

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

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued 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 dividend payout ratio (DPR) is currently 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.