Cambridge Advisors Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,515 shares of the company’s stock after selling 233 shares during the period. AbbVie comprises 0.5% of Cambridge Advisors Inc.’s investment portfolio, making the stock its 29th biggest position. Cambridge Advisors Inc.’s holdings in AbbVie were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Intelligent Financial Strategies acquired a new stake in AbbVie in the 4th quarter valued at about $27,000. Psagot Value Holdings Ltd. Israel raised its position in AbbVie by 311.3% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after purchasing an additional 3,300 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in AbbVie in the 1st quarter valued at about $33,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of AbbVie in the 1st quarter valued at about $34,000. Finally, Landmark Wealth Management LLC purchased a new position in shares of AbbVie in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 68.25% of the company’s stock.
AbbVie Stock Performance
Shares of ABBV stock opened at $143.06 on Monday. The stock has a fifty day moving average price of $141.77 and a 200 day moving average price of $149.54. The stock has a market cap of $252.94 billion, a PE ratio of 20.26, a P/E/G ratio of 4.02 and a beta of 0.72. AbbVie Inc. has a 1 year low of $106.44 and a 1 year high of $175.91. 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:ABBV – Get Rating) last issued its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. AbbVie’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.11 earnings per share. Sell-side analysts forecast 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. Shareholders of record on Friday, October 14th will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie’s payout ratio is 79.89%.
Analyst Upgrades and Downgrades
ABBV has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Atlantic Securities dropped their price objective on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Argus dropped their price target on AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. Morgan Stanley dropped their price target on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research note on Monday, August 1st. Finally, Piper Sandler dropped their price target on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price 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.
Further Reading
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