AbbVie Inc. (NYSE:ABBV) Shares Sold by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,346 shares of the company’s stock after selling 1,847 shares during the quarter. YHB Investment Advisors Inc.’s holdings in AbbVie were worth $5,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Retirement Income Solutions Inc acquired a new stake in shares of AbbVie during the 1st quarter worth about $204,000. Ergoteles LLC increased its stake in AbbVie by 17.8% in the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after purchasing an additional 847 shares during the last quarter. First Western Trust Bank acquired a new stake in AbbVie during the first quarter worth approximately $1,150,000. Wsfs Capital Management LLC purchased a new stake in shares of AbbVie during the 1st quarter worth approximately $562,000. Finally, Bridgewater Associates LP boosted its holdings in shares of AbbVie by 80.4% in the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after buying an additional 33,661 shares in the last quarter. 67.86% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV traded down $1.76 during midday trading on Wednesday, hitting $136.30. The company had a trading volume of 884,877 shares, compared to its average volume of 5,508,975. The firm has a market capitalization of $240.64 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $168.11. The business has a 50-day simple moving average of $147.17 and a two-hundred day simple moving average of $144.23. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 4.59.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.09. AbbVie had a net margin of 11.81% and a return on equity of 152.70%. The company had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.72 billion. During the same period last year, the firm earned $3.66 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 11.24 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.55%. This is a boost from AbbVie’s previous quarterly dividend of $1.48. The ex-dividend date is Friday, January 12th. AbbVie’s dividend payout ratio is presently 162.19%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays raised shares of AbbVie from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $160.00 to $170.00 in a research report on Monday, October 30th. William Blair initiated coverage on AbbVie in a report on Tuesday, July 25th. They issued a “market perform” rating for the company. Piper Sandler raised their price target on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. StockNews.com initiated coverage on AbbVie in a research note on Thursday, October 5th. They issued a “strong-buy” rating for the company. Finally, Morgan Stanley increased their price objective on AbbVie from $193.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.69.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.