Lbp Am Sa Decreases Stake in AbbVie Inc. (NYSE:ABBV)

LBP AM SA decreased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,094 shares of the company's stock after selling 6,085 shares during the period. LBP AM SA's holdings in AbbVie were worth $33,752,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. EnRich Financial Partners LLC increased 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 purchasing an additional 110 shares in the last quarter. Abound Financial LLC purchased a new position in shares of AbbVie during the 1st quarter valued at approximately $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $32,000. Siemens Fonds Invest GmbH boosted its holdings 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 purchasing an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $36,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Bank of America raised their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Eight investment 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. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Stock Down 1.4%

Shares of ABBV stock traded down $2.68 on Friday, hitting $192.32. 4,990,162 shares of the stock were exchanged, compared to its average volume of 6,292,534. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The business has a 50-day moving average of $187.13 and a 200 day moving average of $188.90. The firm has a market capitalization of $339.71 billion, a P/E ratio of 81.84, a price-to-earnings-growth ratio of 1.29 and a beta of 0.48. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

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

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.41%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

AbbVie Company 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.