Jennison Associates LLC lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 14.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 744,940 shares of the company's stock after selling 129,131 shares during the period. Jennison Associates LLC's holdings in AbbVie were worth $156,080,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Abound Financial LLC bought a new position in AbbVie in the 1st quarter valued at about $30,000. Prudent Man Investment Management Inc. bought a new position in AbbVie in the 4th quarter valued at about $32,000. Siemens Fonds Invest GmbH grew its position in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after buying an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. bought a new position in AbbVie in the 4th quarter valued at about $36,000. 70.23% of the stock is currently owned by institutional investors.
AbbVie Stock Down 1.1%
Shares of ABBV traded down $2.14 on Friday, hitting $189.26. The company's stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,326,641. 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 firm's fifty day moving average price is $187.17 and its 200-day moving average price is $189.46. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a market capitalization of $334.31 billion, a price-to-earnings ratio of 80.54, a P/E/G ratio of 1.25 and a beta of 0.48.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 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 return on equity of 412.03% and a net margin of 7.31%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. On average, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 279.15%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on ABBV shares. Citigroup upped their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Bank of America upped their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Guggenheim upped their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average price target of $211.29.
Check Out Our Latest Report on ABBV
AbbVie Company Profile
(
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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