AbbVie Inc. (NYSE:ABBV) Stock Position Cut by Gilbert & Cook Inc.

Gilbert & Cook Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,464 shares of the company's stock after selling 1,645 shares during the period. Gilbert & Cook Inc.'s holdings in AbbVie were worth $1,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Capital Research Global Investors raised its holdings 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 period. Norges Bank purchased a new stake in shares of AbbVie during the 4th quarter valued at about $4,459,385,000. Northern Trust Corp lifted its position in AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after acquiring an additional 2,299,645 shares in the last quarter. Finally, FMR LLC boosted its holdings in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after acquiring an additional 4,466,971 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of AbbVie stock traded down $0.61 on Friday, reaching $190.22. 3,786,155 shares of the company were exchanged, compared to its average volume of 6,461,288. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The firm has a market cap of $336.00 billion, a price-to-earnings ratio of 80.94, a P/E/G ratio of 1.27 and a beta of 0.48. 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 company's 50-day moving average is $187.62 and its two-hundred day moving average is $189.70.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 279.15%.

Analysts Set New Price Targets

ABBV has been the topic of a number of analyst reports. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Citigroup lifted their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Finally, Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average 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.