Carnegie Capital Asset Management LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 42.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,382 shares of the company's stock after selling 11,916 shares during the period. Carnegie Capital Asset Management LLC's holdings in AbbVie were worth $1,843,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sanders Morris Harris LLC grew its stake in shares of AbbVie by 0.3% in the first quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company's stock valued at $3,755,000 after acquiring an additional 62 shares in the last quarter. ICW Investment Advisors LLC grew its stake in shares of AbbVie by 0.3% in the first quarter. ICW Investment Advisors LLC now owns 23,418 shares of the company's stock valued at $3,796,000 after acquiring an additional 65 shares in the last quarter. Sax Wealth Advisors LLC grew its stake in shares of AbbVie by 0.9% in the first quarter. Sax Wealth Advisors LLC now owns 7,618 shares of the company's stock valued at $1,235,000 after acquiring an additional 66 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its stake in shares of AbbVie by 0.4% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 17,615 shares of the company's stock valued at $2,856,000 after acquiring an additional 67 shares in the last quarter. Finally, Wealth Architects LLC grew its stake in shares of AbbVie by 1.5% in the first quarter. Wealth Architects LLC now owns 4,511 shares of the company's stock valued at $731,000 after acquiring an additional 67 shares in the last quarter. 68.25% of the stock is owned by institutional investors and hedge funds.
Get AbbVie alerts:Analyst Ratings Changes
ABBV has been the topic of several research reports. Argus decreased their price target on shares of AbbVie from $165.00 to $155.00 and set a "buy" rating on the stock in a research note on Wednesday, August 24th. UBS Group reduced their price objective on shares of AbbVie from $154.00 to $146.00 and set a "neutral" rating on the stock in a research note on Monday, August 1st. Barclays reduced their price objective on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Morgan Stanley reduced their price objective on shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating on the stock in a research note on Monday, August 1st. Finally, Piper Sandler reduced their price objective on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average price target of $159.35.
AbbVie Trading Up 1.9 %
ABBV opened at $143.01 on Friday. The company's 50 day moving average is $141.99 and its 200-day moving average is $149.56. The company has a market cap of $252.86 billion, a P/E ratio of 20.26, a PEG ratio of 3.98 and a beta of 0.72. AbbVie Inc. has a 1-year low of $106.44 and a 1-year high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15.AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.42 by $0.09. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $3.11 EPS. Equities research analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a $1.41 dividend. The ex-dividend date is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a yield of 3.94%. AbbVie's dividend payout ratio (DPR) is presently 79.89%.
AbbVie Company Profile
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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