Greenleaf Trust Has $22.48 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Greenleaf Trust cut its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,295 shares of the company's stock after selling 3,237 shares during the period. Greenleaf Trust's holdings in AbbVie were worth $22,480,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of AbbVie in the fourth quarter worth about $4,459,385,000. GAMMA Investing LLC lifted its holdings in shares of AbbVie by 25,841.6% in the first 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 last quarter. FMR LLC lifted its holdings in shares of AbbVie by 32.8% in the fourth 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 last quarter. Franklin Resources Inc. lifted its holdings in shares of AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after acquiring an additional 3,373,156 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of AbbVie by 11.8% in the fourth 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 during the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Bank of America upped their price objective on AbbVie to $204.00 and gave the company 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, Citigroup upped their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Stock Performance

Shares of ABBV stock opened at $189.60 on Wednesday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The firm has a 50 day moving average of $187.19 and a 200-day moving average of $188.77. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a market cap of $334.91 billion, a price-to-earnings ratio of 80.68, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

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

AbbVie Announces Dividend

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 paid 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%.

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.

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