AustralianSuper Pty Ltd acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,634 shares of the company's stock, valued at approximately $1,599,000.
A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. increased its position in shares of AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after buying an additional 983,888 shares during the last quarter. Capital Research Global Investors grew its position in shares of AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after buying an additional 778,126 shares during the last quarter. Norges Bank bought a new stake in shares of AbbVie during the 4th quarter valued at about $4,459,385,000. Finally, Northern Trust Corp grew its position in shares of AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after buying an additional 2,299,645 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on ABBV. Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Morgan Stanley upped their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Eight equities research 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, the company currently has an average rating of "Moderate Buy" and an average target price of $211.29.
Get Our Latest Research Report on AbbVie
AbbVie Stock Performance
NYSE:ABBV opened at $189.26 on Friday. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The firm's fifty day simple moving average is $187.17 and its 200 day simple moving average is $189.46. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $334.31 billion, a PE ratio of 80.54, a PEG ratio of 1.25 and a beta of 0.48.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business posted $2.31 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.
AbbVie 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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