AbbVie Inc. (NYSE:ABBV) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 172,553 shares of the company's stock after selling 1,825 shares during the period. TIAA Trust National Association's holdings in AbbVie were worth $36,153,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Crestline Management LP grew its stake in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after acquiring an additional 28,753 shares in the last quarter. Narus Financial Partners LLC grew its stake in shares of AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after acquiring an additional 401 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. AXA S.A. grew its stake in shares of AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC grew its stake in shares of AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $9,817,000 after acquiring an additional 2,792 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

Shares of ABBV opened at $195.17 on Friday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The stock has a market cap of $344.75 billion, a PE ratio of 92.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.50. 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 fifty day moving average price of $188.33 and a 200 day moving average price of $190.17.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly 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 net margin of 6.45% and a return on equity of 518.10%. The company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. During the same period last year, the firm earned $2.65 earnings per share. AbbVie's revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current 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 issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

ABBV has been the subject of several research reports. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Raymond James Financial boosted their target price on shares of AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Morgan Stanley boosted their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $212.81.

AbbVie Company Profile

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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