Victory Capital Management Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 24.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,429,395 shares of the company's stock after selling 455,476 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of AbbVie worth $299,487,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in AbbVie in the fourth quarter valued at about $4,459,385,000. GAMMA Investing LLC boosted its position in shares of AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after buying an additional 10,195,284 shares during the period. FMR LLC grew its stake in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of AbbVie by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after buying an additional 3,373,156 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after buying an additional 2,299,645 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Stock Performance
Shares of NYSE ABBV traded up $1.34 during trading on Thursday, reaching $191.92. The stock had a trading volume of 2,396,159 shares, compared to its average volume of 6,314,419. The firm's 50 day moving average price is $186.95 and its two-hundred day moving average price is $189.20. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The stock has a market cap of $339.00 billion, a PE ratio of 81.67, a P/E/G ratio of 1.24 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.
AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The business also recently declared 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 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 279.15%.
Analyst Ratings Changes
ABBV has been the subject of a number of analyst reports. Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $211.29.
View Our Latest Stock Report on ABBV
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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