Mawer Investment Management Ltd. Sells 3,416 Shares of AbbVie Inc. (NYSE:ABBV)

Key Points

• Mawer Investment Management Ltd. reduced its holdings in AbbVie Inc. by 1.3% in Q1, owning 258,734 shares valued at approximately $54.2 million.
• AbbVie reported $2.46 EPS, exceeding analyst expectations of $2.40, with quarterly revenue of $13.34 billion, an 8.4% increase compared to last year.
• The company announced a $1.64 quarterly dividend, equating to an annualized yield of 3.48%, with a payout ratio of 279.15%.

Mawer Investment Management Ltd. reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 258,734 shares of the company's stock after selling 3,416 shares during the quarter. Mawer Investment Management Ltd.'s holdings in AbbVie were worth $54,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares in the last quarter. Abound Financial LLC acquired a new position in AbbVie during the 1st quarter worth about $30,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the 4th quarter worth about $32,000. Siemens Fonds Invest GmbH lifted its position in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after buying an additional 119,141 shares in the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in AbbVie during the 1st quarter worth about $35,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV traded up $7.42 during midday trading on Friday, reaching $196.44. 4,788,396 shares of the stock were exchanged, compared to its average volume of 6,852,607. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a market cap of $346.99 billion, a P/E ratio of 83.52, a PEG ratio of 1.25 and a beta of 0.48. The stock's 50 day simple moving average is $188.10 and its 200 day simple moving average is $190.04.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the prior year, the business posted $2.65 EPS. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABBV. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Bank of America lifted their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Raymond James Financial lifted their price objective on AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a report on Friday. Eight equities research 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $212.81.

About AbbVie

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.