P.A.W. Capital Corp Sells 500 Shares of AbbVie Inc. (NYSE:ABBV)

P.A.W. Capital Corp decreased its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 8.3% during the 2nd quarter, Holdings Channel reports. The fund owned 5,500 shares of the company’s stock after selling 500 shares during the quarter. P.A.W. Capital Corp’s holdings in AbbVie were worth $842,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sanders Morris Harris LLC raised its stake in AbbVie by 0.3% in the first quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company’s stock valued at $3,755,000 after buying an additional 62 shares in the last quarter. ICW Investment Advisors LLC increased its holdings in shares of AbbVie by 0.3% during the 1st quarter. ICW Investment Advisors LLC now owns 23,418 shares of the company’s stock worth $3,796,000 after buying an additional 65 shares during the last quarter. Sax Wealth Advisors LLC boosted its position in AbbVie by 0.9% in the 1st quarter. Sax Wealth Advisors LLC now owns 7,618 shares of the company’s stock valued at $1,235,000 after buying an additional 66 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in shares of AbbVie by 0.4% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 17,615 shares of the company’s stock worth $2,856,000 after purchasing an additional 67 shares during the last quarter. Finally, Wealth Architects LLC raised its stake in AbbVie by 1.5% during the first quarter. Wealth Architects LLC now owns 4,511 shares of the company’s stock worth $731,000 after acquiring an additional 67 shares during the period. 68.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ABBV shares. Morgan Stanley reduced their target price on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company 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 dropped their price target on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, August 24th. UBS Group reduced their price target on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a report on Monday, August 1st. Finally, Barclays dropped their price objective on shares of AbbVie to $160.00 in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.35.

AbbVie Stock Performance

Shares of ABBV stock opened at $140.31 on Thursday. The stock has a market capitalization of $248.08 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 4.00 and a beta of 0.72. AbbVie Inc. has a one year low of $105.93 and a one year high of $175.91. The company’s 50-day simple moving average is $142.13 and its 200-day simple moving average is $149.60. 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 (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.42 by $0.09. The firm 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 revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $3.11 EPS. Equities analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, October 13th. AbbVie’s dividend payout ratio (DPR) is presently 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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