Penserra Capital Management LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 96.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144 shares of the company's stock after selling 4,476 shares during the quarter. Penserra Capital Management LLC's holdings in AbbVie were worth $30,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Steel Grove Capital Advisors LLC increased its position in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC increased its position in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after buying an additional 54 shares in the last quarter. Connecticut Wealth Management LLC increased its position in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after buying an additional 57 shares in the last quarter. Castle Wealth Management LLC increased its position in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after buying an additional 57 shares in the last quarter. Finally, Northstar Group Inc. increased its position in shares of AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock valued at $1,783,000 after buying an additional 58 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ABBV. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, Citigroup lifted their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus price target of $211.29.
Read Our Latest Report on AbbVie
AbbVie Stock Performance
ABBV traded down $1.44 on Monday, hitting $191.01. 446,168 shares of the company traded hands, compared to its average volume of 6,288,766. The company has a 50 day moving average of $187.01 and a 200-day moving average of $189.11. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $337.40 billion, a PE ratio of 81.34, a PEG ratio of 1.28 and a beta of 0.48. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last announced 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. The company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Dividend Announcement
The company 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is currently 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.
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