AbbVie Inc. (NYSE:ABBV) Stake Lessened by Kintegral Advisory LLC

Kintegral Advisory LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 32.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,069 shares of the company's stock after selling 18,671 shares during the period. AbbVie makes up approximately 1.2% of Kintegral Advisory LLC's holdings, making the stock its 14th largest position. Kintegral Advisory LLC's holdings in AbbVie were worth $7,976,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ABBV. Vanguard Group Inc. lifted its position in AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the period. Geode Capital Management LLC raised 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 during the last quarter. Capital Research Global Investors lifted its holdings in shares of AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the period. Norges Bank acquired a new stake in shares of AbbVie during the fourth quarter worth $4,459,385,000. Finally, Northern Trust Corp grew its position in AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after buying an additional 2,299,645 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 0.7%

Shares of NYSE:ABBV traded down $1.25 during trading on Friday, reaching $189.50. 3,706,217 shares of the stock were exchanged, compared to its average volume of 6,248,905. The firm's 50-day moving average price is $187.30 and its 200 day moving average price is $188.36. The firm has a market cap of $334.73 billion, a price-to-earnings ratio of 80.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a 12-month low of $163.63 and a 12-month high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

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

AbbVie Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Finally, Citigroup lifted their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.