First National Bank of Omaha trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 8.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,202 shares of the company’s stock after selling 924 shares during the period. First National Bank of Omaha’s holdings in AbbVie were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of ABBV. Vanguard Group Inc. increased its stake in AbbVie by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after purchasing an additional 4,206,711 shares in the last quarter. BlackRock Inc. increased its stake in AbbVie by 1.1% in 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. State Street Corp increased its stake in AbbVie by 3.4% in the 4th quarter. State Street Corp now owns 79,357,705 shares of the company’s stock valued at $10,745,033,000 after purchasing an additional 2,597,076 shares in the last quarter. Capital International Investors increased its stake in AbbVie by 162.6% in 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. Finally, Geode Capital Management LLC increased its stake in AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 28,518,946 shares of the company’s stock valued at $3,850,573,000 after purchasing an additional 758,354 shares in the last quarter. 68.25% of the stock is owned by hedge funds and other institutional investors.
AbbVie Price Performance
Shares of AbbVie stock opened at $142.51 on Friday. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91. The stock has a market capitalization of $251.97 billion, a P/E ratio of 20.19, a PEG ratio of 3.89 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. The business’s fifty day moving average price is $143.16 and its 200 day moving average price is $149.84.
AbbVie (NYSE:ABBV – Get Rating) last released 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. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the company posted $3.11 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current year.
AbbVie Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 3.96%. The ex-dividend date is Thursday, October 13th. AbbVie’s dividend payout ratio (DPR) is presently 79.89%.
Analysts Set New Price Targets
A number of brokerages have commented on ABBV. SVB Leerink began coverage on AbbVie in a report on Monday, May 23rd. They set an “underperform” rating and a $140.00 target price on the stock. Piper Sandler lowered their target price on AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Morgan Stanley lowered their target price on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a report on Monday, August 1st. Barclays lowered their target price on AbbVie to $160.00 in a report on Tuesday, August 9th. Finally, UBS Group lowered their target price on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.35.
About AbbVie
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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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