MainStreet Investment Advisors LLC reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,072 shares of the company's stock after selling 3,008 shares during the quarter. AbbVie accounts for about 2.0% of MainStreet Investment Advisors LLC's holdings, making the stock its 11th largest holding. MainStreet Investment Advisors LLC's holdings in AbbVie were worth $13,424,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. EnRich Financial Partners LLC boosted its holdings in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the period. Abound Financial LLC purchased a new stake in AbbVie during the 1st quarter valued at about $30,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the 4th quarter valued at about $32,000. Siemens Fonds Invest GmbH boosted its holdings in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. purchased a new stake in AbbVie during the 4th quarter valued at about $36,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Stock Down 1.4%
Shares of ABBV stock traded down $2.68 during mid-day trading on Friday, hitting $192.32. The company's stock had a trading volume of 4,990,162 shares, compared to its average volume of 6,302,947. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The business has a 50-day moving average price of $187.01 and a 200 day moving average price of $188.98. 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 stock has a market cap of $339.71 billion, a price-to-earnings ratio of 81.84, a PEG ratio of 1.29 and a beta of 0.48.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI increased their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, BNP Paribas upgraded 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 given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.
Get Our Latest Stock Analysis on ABBV
AbbVie 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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