Navellier & Associates Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 30,960 shares of the company's stock after selling 2,473 shares during the period. AbbVie makes up approximately 0.9% of Navellier & Associates Inc.'s investment portfolio, making the stock its 29th largest holding. Navellier & Associates Inc.'s holdings in AbbVie were worth $6,070,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently 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 worth $30,000. Prudent Man Investment Management Inc. acquired 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 acquiring an additional 119,141 shares in the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in AbbVie in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Trading Down 0.3%
Shares of AbbVie stock traded down $0.61 during trading hours on Friday, reaching $190.22. The stock had a trading volume of 3,786,155 shares, compared to its average volume of 6,461,288. The firm has a 50 day simple moving average of $187.62 and a two-hundred day simple moving average of $189.70. The firm has a market capitalization of $336.00 billion, a price-to-earnings ratio of 80.94, a P/E/G ratio of 1.27 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 Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.45%. AbbVie's dividend payout ratio is presently 279.15%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on ABBV shares. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. 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. Morgan Stanley upped their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight research 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.
Check Out Our Latest 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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