Abacus Planning Group Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,764 shares of the company’s stock after selling 197 shares during the quarter. Abacus Planning Group Inc.’s holdings in AbbVie were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in AbbVie by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after acquiring an additional 4,206,711 shares during the period. BlackRock Inc. grew its position in shares of AbbVie by 1.1% during the 1st quarter. BlackRock Inc. now owns 129,630,878 shares of the company’s stock valued at $21,014,462,000 after purchasing an additional 1,433,324 shares in the last quarter. Capital International Investors grew its position in shares of AbbVie by 162.6% during the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company’s stock valued at $4,943,993,000 after purchasing an additional 18,882,699 shares in the last quarter. Norges Bank purchased a new position in shares of AbbVie during the 4th quarter valued at $2,433,269,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of AbbVie by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,904,988 shares of the company’s stock valued at $1,443,588,000 after purchasing an additional 176,026 shares in the last quarter. Institutional investors own 68.25% of the company’s stock.
AbbVie Stock Up 0.0 %
Shares of ABBV stock opened at $143.06 on Monday. The company has a market capitalization of $252.94 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 4.02 and a beta of 0.72. AbbVie Inc. has a one year low of $106.44 and a one year high of $175.91. The company’s fifty day moving average price is $141.77 and its 200-day moving average price is $149.54. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.84 and a quick ratio of 0.75.
AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating the consensus estimate of $3.42 by $0.09. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate 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 period last year, the firm earned $3.11 EPS. Sell-side analysts expect that AbbVie Inc. will post 14.05 EPS for the current fiscal year.
AbbVie Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a $1.41 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a yield of 3.94%. AbbVie’s dividend payout ratio is currently 79.89%.
Wall Street Analysts Forecast Growth
ABBV has been the subject of a number of recent analyst reports. Barclays reduced their price target on shares of AbbVie to $160.00 in a research report on Tuesday, August 9th. Atlantic Securities cut their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, August 1st. Piper Sandler lowered their price objective on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Morgan Stanley lowered their price objective on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a research note on Monday, August 1st. Finally, Argus decreased 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.35.
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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