Swiss National Bank decreased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,984,010 shares of the company's stock after selling 5,800 shares during the period. AbbVie comprises about 0.7% of Swiss National Bank's investment portfolio, making the stock its 21st biggest holding. Swiss National Bank owned 0.28% of AbbVie worth $1,044,250,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Crestline Management LP grew its position in AbbVie by 438.4% in 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 grew its position in AbbVie by 25.3% in 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 grew its position in AbbVie by 1.2% in 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. grew its position in AbbVie by 14.8% in 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 grew its position in AbbVie by 6.3% in 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 own 70.23% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on ABBV shares. 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. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley boosted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Guggenheim upped their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $214.43.
Check Out Our Latest Stock Analysis on AbbVie
Insider Activity
In related news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company's stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company's stock.
AbbVie Price Performance
Shares of ABBV stock opened at $198.77 on Friday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.64. The company has a market capitalization of $351.13 billion, a P/E ratio of 94.65, a P/E/G ratio of 1.26 and a beta of 0.50. The company's 50-day simple moving average is $189.13 and its two-hundred day simple moving average is $190.69. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%. AbbVie's revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.65 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.3%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.
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.
Further Reading
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