New Mexico Educational Retirement Board reduced its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,555 shares of the company's stock after selling 1,700 shares during the quarter. AbbVie accounts for approximately 0.6% of New Mexico Educational Retirement Board's holdings, making the stock its 22nd biggest position. New Mexico Educational Retirement Board's holdings in AbbVie were worth $17,297,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of ABBV. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% during the 4th 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 acquired a new stake in shares of AbbVie during the first quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the fourth quarter valued at approximately $32,000. Siemens Fonds Invest GmbH raised its stake in shares of AbbVie by 197.6% in the fourth 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 last quarter. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie in the 4th quarter worth approximately $36,000. 70.23% of the stock is owned by institutional investors.
AbbVie Stock Down 1.4%
Shares of NYSE:ABBV traded down $2.68 during midday trading on Friday, hitting $192.32. The stock had a trading volume of 4,990,162 shares, compared to its average volume of 6,292,534. The company has a market cap of $339.71 billion, a P/E ratio of 81.84, a PEG ratio of 1.29 and a beta of 0.48. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The business's 50-day simple moving average is $187.13 and its 200-day simple moving average is $188.90. The company has a quick ratio of 0.64, a current ratio of 0.76 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 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Eight investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.
Check Out Our Latest Research Report on ABBV
AbbVie Company 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.
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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
