Scotia Capital Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,535 shares of the company's stock after selling 3,389 shares during the period. Scotia Capital Inc.'s holdings in AbbVie were worth $27,559,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Abound Financial LLC acquired a new stake in AbbVie in the first quarter valued at $30,000. EnRich Financial Partners LLC lifted its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the period. Cypress Capital Management LLC WY acquired a new stake in AbbVie in the first quarter valued at $35,000. Pinney & Scofield Inc. acquired a new stake in AbbVie in the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in AbbVie in the first quarter valued at $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Trading Up 3.3%
AbbVie stock opened at $195.17 on Friday. The stock has a market cap of $344.75 billion, a PE ratio of 92.94, a P/E/G ratio of 1.29 and a beta of 0.50. The stock has a 50-day moving average price of $188.33 and a 200 day moving average price of $190.30. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.65 EPS. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently declared 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 is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.4%. AbbVie's payout ratio is 279.15%.
Analyst Ratings Changes
A number of research firms have commented on ABBV. Evercore ISI raised their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Raymond James Financial raised their target price on AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a report on Friday. Guggenheim raised their target price on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Morgan Stanley raised their target price on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $212.81.
Read Our Latest Research Report on AbbVie
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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