Foundation Resource Management Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,557 shares of the company's stock after selling 80 shares during the period. Foundation Resource Management Inc.'s holdings in AbbVie were worth $6,212,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Intelligent Financial Strategies bought a new position in AbbVie in the 4th quarter valued at approximately $27,000. Psagot Value Holdings Ltd. Israel raised its holdings in AbbVie by 311.3% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company's stock valued at $28,000 after buying an additional 3,300 shares during the last quarter. GoalVest Advisory LLC bought a new position in AbbVie in the 1st quarter valued at approximately $33,000. Joseph P. Lucia & Associates LLC bought a new position in AbbVie in the 1st quarter valued at approximately $34,000. Finally, Landmark Wealth Management LLC bought a new position in AbbVie in the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 68.25% of the company's stock.
Get AbbVie alerts:AbbVie Stock Performance
Shares of ABBV stock opened at $143.06 on Friday. The company has a market cap of $252.94 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 4.02 and a beta of 0.72. AbbVie Inc. has a 52 week low of $106.44 and a 52 week high of $175.91. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 4.15. The firm has a 50 day moving average of $141.77 and a 200-day moving average of $149.53.
AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the firm posted $3.11 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.AbbVie Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie's payout ratio is currently 79.89%.
Analysts Set New Price Targets
ABBV has been the subject of a number of research reports. UBS Group dropped their price objective on shares of AbbVie from $154.00 to $146.00 and set a "neutral" rating for the company in a report on Monday, August 1st. Atlantic Securities lowered their price target on shares of AbbVie from $178.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, August 1st. Morgan Stanley lowered their price target on shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating for the company in a report on Monday, August 1st. Argus lowered their price target on shares of AbbVie from $165.00 to $155.00 and set a "buy" rating for the company in a report on Wednesday, August 24th. Finally, Barclays lowered their price target on shares of AbbVie to $160.00 in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $159.35.
About AbbVie
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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.
Further Reading
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