Welch & Forbes LLC cut its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 354,624 shares of the company's stock after selling 8,924 shares during the period. Welch & Forbes LLC's holdings in AbbVie were worth $74,301,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Altman Advisors Inc. grew its position in AbbVie by 1.8% during the 1st quarter. Altman Advisors Inc. now owns 15,449 shares of the company's stock worth $3,014,000 after acquiring an additional 274 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in AbbVie by 0.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 384,495 shares of the company's stock valued at $80,559,000 after buying an additional 3,573 shares during the last quarter. Parcion Private Wealth LLC boosted its position in AbbVie by 7.8% in the 1st quarter. Parcion Private Wealth LLC now owns 15,606 shares of the company's stock valued at $3,270,000 after buying an additional 1,125 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in AbbVie by 0.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 37,862 shares of the company's stock valued at $7,933,000 after buying an additional 97 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC boosted its position in AbbVie by 10.2% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 7,883 shares of the company's stock valued at $1,652,000 after buying an additional 729 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.
AbbVie Stock Performance
NYSE ABBV traded down $2.22 during trading on Friday, reaching $189.18. 1,284,323 shares of the company's stock were exchanged, compared to its average volume of 6,301,298. The business has a 50 day moving average price of $187.07 and a 200-day moving average price of $189.30. The stock has a market capitalization of $334.17 billion, a P/E ratio of 80.60, a PEG ratio of 1.26 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
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 paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 279.15%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ABBV. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Bank of America increased their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Citigroup raised their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.
Check Out Our Latest Stock Report on AbbVie
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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