Whittier Trust Co. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 227,957 shares of the company's stock after selling 16,778 shares during the period. Whittier Trust Co.'s holdings in AbbVie were worth $47,761,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. 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 buying an additional 110 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at about $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $32,000. Siemens Fonds Invest GmbH increased 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 purchasing an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $36,000. Institutional investors own 70.23% of the company's stock.
Analyst Ratings Changes
ABBV has been the subject of several analyst reports. Evercore ISI increased 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. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.
Get Our Latest Research Report on ABBV
AbbVie Price Performance
Shares of NYSE ABBV traded down $2.18 during midday trading on Friday, reaching $189.23. 2,416,242 shares of the stock traded hands, compared to its average volume of 6,306,036. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock has a market capitalization of $334.25 billion, a PE ratio of 80.54, a P/E/G ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company's 50 day moving average is $187.07 and its 200 day moving average is $189.30.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly 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 return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current 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 issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.47%. AbbVie's payout ratio is presently 279.15%.
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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