Precedent Wealth Partners LLC grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,593 shares of the company's stock after purchasing an additional 1,149 shares during the period. Precedent Wealth Partners LLC's holdings in AbbVie were worth $2,152,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock worth $36,439,271,000 after acquiring an additional 845,787 shares in the last quarter. Northern Trust Corp lifted its stake in AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock worth $4,612,357,000 after acquiring an additional 189,294 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in AbbVie by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company's stock worth $2,675,959,000 after acquiring an additional 713,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in AbbVie by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company's stock worth $1,972,050,000 after acquiring an additional 45,871 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Analyst Ratings Changes
ABBV has been the topic of several research reports. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Guggenheim increased their price target on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday, August 1st. UBS Group set a $251.00 price target on AbbVie in a research report on Friday. Raymond James Financial reaffirmed an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Finally, Hsbc Global Res lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.22.
Get Our Latest Stock Analysis on ABBV
AbbVie Trading Down 1.1%
ABBV opened at $234.07 on Friday. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The company has a market cap of $413.49 billion, a P/E ratio of 111.46, a PEG ratio of 1.38 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The business's 50-day simple moving average is $210.77 and its 200-day simple moving average is $196.01.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. During the same quarter in the previous year, the company posted $2.65 EPS. The company's revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie's dividend payout ratio is presently 312.38%.
Insider Transactions at AbbVie
In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.
AbbVie Profile
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Free Report)
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.
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