Nisa Investment Advisors LLC Has $99.52 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Nisa Investment Advisors LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 474,993 shares of the company's stock after selling 26,923 shares during the quarter. AbbVie comprises about 0.5% of Nisa Investment Advisors LLC's investment portfolio, making the stock its 29th largest holding. Nisa Investment Advisors LLC's holdings in AbbVie were worth $99,521,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Alpha Financial Partners LLC lifted its holdings in AbbVie by 8.2% in the 1st quarter. Alpha Financial Partners LLC now owns 1,656 shares of the company's stock valued at $347,000 after acquiring an additional 126 shares during the last quarter. Banque Pictet & Cie SA lifted its holdings in AbbVie by 139.5% in the 1st quarter. Banque Pictet & Cie SA now owns 178,344 shares of the company's stock valued at $37,367,000 after acquiring an additional 103,887 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in AbbVie by 1.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 68,987 shares of the company's stock valued at $14,454,000 after acquiring an additional 669 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in AbbVie by 2.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 14,737 shares of the company's stock valued at $3,088,000 after acquiring an additional 319 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in AbbVie by 27.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 2,004 shares of the company's stock valued at $420,000 after acquiring an additional 432 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABBV shares. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley boosted 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, Evercore ISI boosted 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. Eight equities research 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Down 1.4%

Shares of AbbVie stock traded down $2.68 on Friday, reaching $192.32. 4,990,162 shares of the company were exchanged, compared to its average volume of 6,311,659. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company has a market capitalization 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 current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a 50-day moving average of $187.01 and a 200 day moving average of $189.05.

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, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the prior year, the business earned $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

About AbbVie

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.