LifeSteps Financial Inc. Reduces Holdings in AbbVie Inc. (NYSE:ABBV)

LifeSteps Financial Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 7.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,012 shares of the company’s stock after selling 579 shares during the period. AbbVie makes up about 1.1% of LifeSteps Financial Inc.’s investment portfolio, making the stock its 20th largest position. LifeSteps Financial Inc.’s holdings in AbbVie were worth $1,074,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Intelligent Financial Strategies purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new stake in AbbVie in the first quarter valued at $33,000. Joseph P. Lucia & Associates LLC acquired a new stake in AbbVie in the first quarter valued at $34,000. Cordant Inc. acquired a new stake in AbbVie in the first quarter valued at $42,000. Finally, Monumental Financial Group Inc. acquired a new stake in AbbVie in the first quarter valued at $52,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. Morgan Stanley cut their price target on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a report on Monday, August 1st. Atlantic Securities cut their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Piper Sandler cut their price target on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Argus cut their price target on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. Finally, Barclays cut their price target on shares of AbbVie to $160.00 in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.35.

AbbVie Stock Up 1.9 %

AbbVie stock opened at $143.01 on Friday. The company has a 50-day simple moving average of $141.99 and a 200-day simple moving average of $149.56. The firm has a market capitalization of $252.86 billion, a P/E ratio of 20.26, a P/E/G ratio of 3.98 and a beta of 0.72. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. AbbVie Inc. has a one year low of $106.44 and a one year high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.42 by $0.09. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.11 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 annualized dividend and a dividend yield of 3.94%. AbbVie’s dividend payout ratio is currently 79.89%.

AbbVie Profile

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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