Rice Partnership LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 55.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,966 shares of the company's stock after selling 2,462 shares during the quarter. Rice Partnership LLC's holdings in AbbVie were worth $412,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in ABBV. EnRich Financial Partners LLC raised its position 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 last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $32,000. Siemens Fonds Invest GmbH raised its position in shares of 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 acquiring an additional 119,141 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $36,000. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. 70.23% of the stock is owned by institutional investors.
AbbVie Stock Down 1.0%
Shares of NYSE:ABBV traded down $1.84 during trading on Monday, hitting $187.44. 10,162,022 shares of the company were exchanged, compared to its average volume of 6,269,187. 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 stock has a market cap of $331.09 billion, a price-to-earnings ratio of 79.76, a P/E/G ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a fifty day moving average price of $187.37 and a two-hundred day moving average price of $188.68.
AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.31 EPS. As a group, research analysts anticipate 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 3.50%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.
Wall Street Analysts Forecast Growth
Several analysts have commented on ABBV shares. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.
Get Our Latest Stock 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.
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