Aigen Investment Management LP acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,671 shares of the company's stock, valued at approximately $560,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new position in AbbVie in the 1st quarter worth about $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the 1st quarter worth $35,000. Pinney & Scofield Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at about $36,000. Inlight Wealth Management LLC purchased a new position in shares of AbbVie in the first quarter worth about $42,000. Finally, HWG Holdings LP purchased a new position in AbbVie during the first quarter valued at approximately $42,000. 70.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have commented on ABBV. Daiwa America upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Cantor Fitzgerald assumed coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Morgan Stanley boosted their target price on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Guggenheim upped their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $214.95.
Get Our Latest Stock Report on AbbVie
AbbVie Stock Up 0.8%
ABBV traded up $1.74 during trading on Friday, hitting $206.42. 2,752,344 shares of the company's stock were exchanged, compared to its average volume of 6,698,492. The business's 50 day moving average is $190.74 and its two-hundred day moving average is $191.86. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The stock has a market cap of $364.65 billion, a P/E ratio of 98.21, a PEG ratio of 1.29 and a beta of 0.50.
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 analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. During the same period last year, the company earned $2.65 earnings per share. The firm's revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 312.38%.
Insiders Place Their Bets
In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.
AbbVie Company 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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