Oppenheimer Asset Management Inc. cut its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,640 shares of the company's stock after selling 6,609 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in AbbVie were worth $37,219,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% in 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 during the period. Promus Capital LLC bought a new position in shares of AbbVie in the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the 4th quarter valued at $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie during the 4th quarter valued at $32,000. Finally, Siemens Fonds Invest GmbH boosted its position 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 buying an additional 119,141 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.
Insiders Place Their Bets
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.
AbbVie Stock Up 0.9%
NYSE:ABBV traded up $1.67 during trading hours on Thursday, reaching $187.06. 5,728,909 shares of the company traded hands, compared to its average volume of 6,227,638. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. 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 business's 50-day moving average price is $186.03 and its two-hundred day moving average price is $187.88. The stock has a market capitalization of $330.42 billion, a P/E ratio of 79.60, a P/E/G ratio of 1.23 and a beta of 0.50.
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 the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion for 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%. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 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 stock. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $211.29.
Get Our Latest Analysis on AbbVie
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.
Further Reading
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
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
