New Mexico Educational Retirement Board reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,555 shares of the company's stock after selling 1,700 shares during the quarter. AbbVie makes up about 0.6% of New Mexico Educational Retirement Board's portfolio, making the stock its 22nd largest position. New Mexico Educational Retirement Board's holdings in AbbVie were worth $17,297,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Abound Financial LLC bought a new position in AbbVie during the first quarter worth $30,000. EnRich Financial Partners LLC boosted its stake in 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 in the last quarter. Prudent Man Investment Management Inc. bought a new position in AbbVie during the fourth quarter worth $32,000. Pinney & Scofield Inc. bought a new position in AbbVie during the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie during the first quarter worth $42,000. 70.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on ABBV shares. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Guggenheim raised their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.
Check Out Our Latest Analysis on ABBV
AbbVie Stock Performance
Shares of ABBV traded down $2.68 during trading hours on Friday, hitting $192.32. The company's stock had a trading volume of 4,990,162 shares, compared to its average volume of 6,311,659. The company has a market cap of $339.71 billion, a price-to-earnings ratio of 81.84, a PEG ratio of 1.28 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The business has a 50 day simple moving average of $187.01 and a two-hundred day simple moving average of $189.05. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66.
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 analysts' consensus estimates 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 analyst estimates of $12.91 billion. During the same period last year, the business earned $2.31 earnings per share. AbbVie's revenue was up 8.4% compared to the same quarter last year. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given 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 3.41%. AbbVie's payout ratio is presently 279.15%.
About AbbVie
(
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.
See Also
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock the timeless value of gold with our exclusive 2025 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
