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HM Payson & Co. Sells 3,948 Shares of AbbVie Inc. (NYSE:ABBV)

AbbVie logo with Medical background

HM Payson & Co. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 611,755 shares of the company's stock after selling 3,948 shares during the period. AbbVie comprises 2.2% of HM Payson & Co.'s investment portfolio, making the stock its 10th biggest position. HM Payson & Co.'s holdings in AbbVie were worth $128,175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. Crestline Management LP lifted its holdings in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after purchasing an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP grew its stake in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after acquiring an additional 276 shares in the last quarter. AXA S.A. grew its stake in AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC grew its stake in AbbVie by 6.3% during the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after acquiring an additional 2,792 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Trading Down 0.7%

Shares of NYSE:ABBV traded down $1.25 during mid-day trading on Friday, reaching $189.50. 3,706,217 shares of the company were exchanged, compared to its average volume of 6,249,990. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The firm has a market cap of $334.73 billion, a price-to-earnings ratio of 80.64, a P/E/G ratio of 1.26 and a beta of 0.48. The firm's 50-day simple moving average is $187.37 and its 200 day simple moving average is $188.68. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. AbbVie's payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

ABBV has been the subject of several research reports. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Finally, Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

Check Out Our Latest Stock Analysis on ABBV

About AbbVie

(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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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