AbbVie Inc. (NYSE:ABBV) Stock Position Cut by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 957,278 shares of the company's stock after selling 4,001 shares during the period. AbbVie comprises 0.6% of Chevy Chase Trust Holdings LLC's portfolio, making the stock its 24th largest holding. Chevy Chase Trust Holdings LLC owned approximately 0.05% of AbbVie worth $200,569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ABBV. Norges Bank acquired a new stake in AbbVie in the 4th quarter worth about $4,459,385,000. GAMMA Investing LLC lifted its holdings in shares of AbbVie by 25,841.6% during the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after acquiring an additional 10,195,284 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $1,190,951,000. FMR LLC grew its holdings in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 0.0%

Shares of NYSE:ABBV traded up $0.09 during midday trading on Wednesday, reaching $185.64. The company had a trading volume of 4,469,960 shares, compared to its average volume of 6,224,158. The stock has a market capitalization of $327.91 billion, a P/E ratio of 79.00, a PEG ratio of 1.22 and a beta of 0.50. The stock's fifty day moving average price is $185.46 and its 200-day moving average price is $187.82. 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 Inc. has a one year low of $163.52 and a one year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share 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 during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. The company's revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie 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 of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Bank of America upped their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

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.