Sound View Wealth Advisors Group LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,853 shares of the company's stock after selling 3,959 shares during the period. AbbVie makes up approximately 0.9% of Sound View Wealth Advisors Group LLC's portfolio, making the stock its 28th largest position. Sound View Wealth Advisors Group LLC's holdings in AbbVie were worth $11,493,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ABBV. Crestline Management LP boosted its position in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after purchasing an additional 28,753 shares during the period. Narus Financial Partners LLC boosted its position in shares of AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after purchasing an additional 401 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the period. AXA S.A. boosted its position in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares during the period. Finally, Highland Capital Management LLC boosted its position in shares of AbbVie by 6.3% during the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $9,817,000 after purchasing an additional 2,792 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Stock Up 3.3%
NYSE:ABBV traded up $6.15 during midday trading on Friday, hitting $195.17. 8,081,230 shares of the company were exchanged, compared to its average volume of 5,440,562. The company has a fifty day simple moving average of $188.10 and a 200 day simple moving average of $190.04. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week 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 company has a market capitalization of $344.75 billion, a PE ratio of 92.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.50.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.4%. AbbVie's payout ratio is currently 279.15%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on ABBV shares. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Raymond James Financial raised their price target on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a research report on Friday. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Guggenheim raised their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $212.81.
View Our Latest Research Report on AbbVie
AbbVie Profile
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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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