Allspring Global Investments Holdings LLC Has $130.14 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Allspring Global Investments Holdings LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 630,901 shares of the company's stock after selling 5,803 shares during the period. Allspring Global Investments Holdings LLC's holdings in AbbVie were worth $130,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LaFleur & Godfrey LLC boosted its holdings in AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after buying an additional 3,108 shares during the last quarter. Brighton Jones LLC raised its position in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its stake in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in AbbVie during the 4th quarter worth approximately $876,000. Finally, Whipplewood Advisors LLC acquired a new position in AbbVie during the fourth quarter valued at approximately $192,000. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.25% of the company's stock.

AbbVie Stock Down 2.6%

NYSE:ABBV traded down $4.90 during trading hours on Friday, reaching $181.89. 29,262,557 shares of the stock were exchanged, compared to its average volume of 6,249,513. The stock has a market cap of $321.29 billion, a PE ratio of 77.40, a PEG ratio of 1.21 and a beta of 0.50. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The firm has a 50 day moving average of $186.21 and a 200 day moving average of $188.01. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.61%. AbbVie's dividend payout ratio is 279.15%.

Analysts Set New Price Targets

Several brokerages have commented on ABBV. Evercore ISI increased their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Morgan Stanley boosted their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie 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.