Louisiana State Employees Retirement System reduced its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,200 shares of the company's stock after selling 1,700 shares during the quarter. Louisiana State Employees Retirement System's holdings in AbbVie were worth $17,300,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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. 70.23% of the stock is owned by institutional investors.
Insider Activity
In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were 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 approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
AbbVie Price Performance
Shares of NYSE:ABBV opened at $233.42 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The business has a fifty day simple moving average of $212.45 and a 200 day simple moving average of $196.19. The firm has a market cap of $412.35 billion, a price-to-earnings ratio of 111.15, a P/E/G ratio of 1.35 and a beta of 0.51.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same quarter in the prior year, the business posted $2.65 earnings per share. AbbVie's revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of AbbVie in a research note on Saturday, September 27th. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. BMO Capital Markets raised their target price on AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Raymond James Financial reaffirmed an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Finally, Piper Sandler initiated coverage on AbbVie in a research report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 target price for the company. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.14.
Read Our Latest Research Report on ABBV
AbbVie Profile
(
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.
Further Reading
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