Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 17.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,182,248 shares of the company's stock after selling 252,882 shares during the quarter. AbbVie comprises 0.6% of Mitsubishi UFJ Trust & Banking Corp's portfolio, making the stock its 24th largest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of AbbVie worth $247,705,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Crestline Management LP grew its holdings in shares of AbbVie by 438.4% during the fourth 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 during the last quarter. Narus Financial Partners LLC grew its holdings in shares of AbbVie by 25.3% during the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock valued at $417,000 after purchasing an additional 401 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AbbVie by 1.2% during 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 purchasing an additional 108,993 shares during the last quarter. AXA S.A. grew its holdings in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after purchasing an additional 125,568 shares during the last quarter. Finally, Highland Capital Management LLC grew its holdings in shares of AbbVie by 6.3% during the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after purchasing an additional 2,792 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on ABBV shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Bank of America upped their target price on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Guggenheim increased their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday. Finally, Raymond James Financial increased their price objective on AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.81.
View Our Latest Analysis on ABBV
AbbVie Stock Performance
ABBV opened at $195.17 on Friday. The firm has a market cap of $344.75 billion, a PE ratio of 92.94, a P/E/G ratio of 1.25 and a beta of 0.50. 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 business has a fifty day simple moving average of $188.33 and a 200-day simple moving average of $190.17. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The business's revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.65 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Announces Dividend
The firm 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 $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 279.15%.
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.
Further Reading
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