Veracity Capital LLC Has $966,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Veracity Capital LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,305 shares of the company’s stock after selling 335 shares during the period. Veracity Capital LLC’s holdings in AbbVie were worth $966,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of AbbVie during the 4th quarter worth about $3,229,888,000. International Assets Investment Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $499,955,000. Capital International Investors increased its position in AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after acquiring an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA raised its stake in AbbVie by 39.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after purchasing an additional 2,390,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ABBV shares. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Tuesday. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.07.

AbbVie Trading Down 1.3 %

Shares of AbbVie stock traded down $2.12 during trading hours on Thursday, hitting $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 company has a market capitalization of $289.32 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.12 and a beta of 0.64. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a 50 day moving average of $164.50 and a 200 day moving average of $167.80. AbbVie Inc. has a 12 month low of $132.70 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

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

AbbVie Profile

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.