Generali Investments CEE investicni spolecnost a.s. Decreases Holdings in AbbVie Inc. (NYSE:ABBV)

Generali Investments CEE investicni spolecnost a.s. trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,859 shares of the company's stock after selling 1,691 shares during the period. Generali Investments CEE investicni spolecnost a.s.'s holdings in AbbVie were worth $7,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jackson Thornton Wealth Management LLC increased its stake in AbbVie by 14.4% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 1,373 shares of the company's stock valued at $288,000 after purchasing an additional 173 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in shares of AbbVie by 30.4% in the 1st quarter. Capital Investment Advisory Services LLC now owns 49,628 shares of the company's stock valued at $10,398,000 after acquiring an additional 11,576 shares during the period. Mills Wealth Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $219,000. Global Wealth Management Investment Advisory Inc. raised its stake in AbbVie by 21.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 36,332 shares of the company's stock worth $7,612,000 after acquiring an additional 6,318 shares during the last quarter. Finally, Wedgewood Investors Inc. PA acquired a new stake in AbbVie during the 1st quarter worth about $455,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $189.50 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a fifty day moving average of $187.37 and a 200 day moving average of $188.46. The firm has a market cap of $334.73 billion, a PE ratio of 80.64, a PEG ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a one year low of $163.63 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 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.31 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Evercore ISI increased their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Morgan Stanley lifted 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. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. 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 stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $211.29.

About AbbVie

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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