Massachusetts Financial Services Co. MA lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,850,246 shares of the company's stock after selling 197,962 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.50% of AbbVie worth $1,854,304,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Steel Grove Capital Advisors LLC boosted its stake in shares of AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after acquiring an additional 52 shares during the period. Peninsula Wealth LLC boosted its stake in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after acquiring an additional 54 shares during the period. Connecticut Wealth Management LLC boosted its stake in shares of AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after acquiring an additional 57 shares during the period. Castle Wealth Management LLC boosted its stake in shares of AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after acquiring an additional 57 shares during the period. Finally, Northstar Group Inc. boosted its stake in shares of AbbVie by 0.7% during the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after acquiring an additional 58 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Price Performance
Shares of AbbVie stock traded up $4.14 during trading on Wednesday, reaching $190.53. 6,201,988 shares of the company's stock were exchanged, compared to its average volume of 6,319,566. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company has a market cap of $336.55 billion, a P/E ratio of 81.08, a PEG ratio of 1.28 and a beta of 0.48. The firm's 50-day moving average price is $186.90 and its 200 day moving average price is $189.19.
AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $12.91 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.44%. AbbVie's payout ratio is presently 279.15%.
Analyst Upgrades and Downgrades
ABBV has been the subject of several research analyst reports. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Guggenheim boosted their price target on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.
Check Out Our Latest Stock Report on ABBV
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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