Mutual of America Capital Management LLC Sells 6,930 Shares of AbbVie Inc. (NYSE:ABBV)

Mutual of America Capital Management LLC lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 220,334 shares of the company's stock after selling 6,930 shares during the quarter. AbbVie makes up about 0.5% of Mutual of America Capital Management LLC's portfolio, making the stock its 23rd biggest holding. Mutual of America Capital Management LLC's holdings in AbbVie were worth $46,164,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crestline Management LP boosted its position in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after acquiring an additional 28,753 shares during the last quarter. Narus Financial Partners LLC lifted its position in AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock valued at $417,000 after buying an additional 401 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after buying an additional 108,993 shares during the last quarter. Quantbot Technologies LP lifted its position in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after buying an additional 276 shares during the last quarter. Finally, AXA S.A. lifted its position in AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after buying an additional 125,568 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV stock traded up $4.51 during mid-day trading on Wednesday, reaching $190.90. The stock had a trading volume of 2,698,463 shares, compared to its average volume of 6,306,194. The firm's 50 day simple moving average is $186.90 and its 200 day simple moving average is $189.19. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The firm has a market cap of $337.21 billion, a PE ratio of 81.39, a P/E/G ratio of 1.28 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company earned $2.31 EPS. AbbVie's revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.44%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Analyst Ratings Changes

ABBV has been the topic of several research reports. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Bank of America increased their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Company Profile

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.