Teamwork Financial Advisors LLC Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Teamwork Financial Advisors LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,532 shares of the company’s stock after selling 1,119 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in AbbVie were worth $1,190,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $26,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the first quarter worth $36,000. Redmont Wealth Advisors LLC acquired a new position in shares of AbbVie during the first quarter worth $37,000. Able Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth $33,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. BMO Capital Markets reduced their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Barclays reduced their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

AbbVie Stock Down 1.3 %

NYSE ABBV traded down $2.12 during trading on Thursday, reaching $163.84. The company’s stock had a trading volume of 3,527,612 shares, compared to its average volume of 5,996,385. The business has a 50-day moving average price of $164.50 and a 200-day moving average price of $167.80. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 1-year low of $132.70 and a 1-year high of $182.89. The stock has a market capitalization of $289.32 billion, a PE ratio of 48.62, a PEG ratio of 2.12 and a beta of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

About AbbVie

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.