Meyer Handelman Co. increased its stake in AbbVie Inc. (NYSE:ABBV – Get Rating) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,455 shares of the company's stock after buying an additional 188 shares during the period. Meyer Handelman Co.'s holdings in AbbVie were worth $19,981,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in ABBV. Alliancebernstein L.P. increased its stake in AbbVie by 9.7% in the 4th quarter. Alliancebernstein L.P. now owns 3,120,561 shares of the company's stock worth $422,524,000 after buying an additional 275,034 shares during the period. Red Door Wealth Management LLC increased its stake in AbbVie by 3.8% in the 4th quarter. Red Door Wealth Management LLC now owns 4,068 shares of the company's stock worth $550,000 after buying an additional 148 shares during the period. Stonebridge Capital Advisors LLC increased its position in AbbVie by 3.8% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 111,690 shares of the company's stock valued at $15,123,000 after purchasing an additional 4,047 shares during the period. CSS LLC IL increased its position in AbbVie by 6.4% during the 4th quarter. CSS LLC IL now owns 8,328 shares of the company's stock valued at $1,127,000 after purchasing an additional 500 shares during the period. Finally, Columbia Asset Management increased its position in AbbVie by 0.8% during the 4th quarter. Columbia Asset Management now owns 55,613 shares of the company's stock valued at $7,530,000 after purchasing an additional 445 shares during the period. Hedge funds and other institutional investors own 68.25% of the company's stock.
Get AbbVie alerts:AbbVie Stock Up 0.0 %
ABBV stock opened at $143.06 on Friday. The firm has a 50 day moving average of $141.77 and a 200 day moving average of $149.53. The stock has a market capitalization of $252.94 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 4.02 and a beta of 0.72. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 4.15. AbbVie Inc. has a 52 week low of $106.44 and a 52 week high of $175.91.
AbbVie (NYSE:ABBV – Get Rating) last released its earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.42 by $0.09. The company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. AbbVie's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the business earned $3.11 EPS. Sell-side analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.AbbVie Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $1.41 per share. 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 79.89%.
Wall Street Analysts Forecast Growth
ABBV has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating on the stock in a research report on Monday, August 1st. Atlantic Securities cut their target price on shares of AbbVie from $178.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, August 1st. Piper Sandler cut their target price on shares of AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. Argus cut their target price on shares of AbbVie from $165.00 to $155.00 and set a "buy" rating on the stock in a research report on Wednesday, August 24th. Finally, Barclays cut their target price on shares of AbbVie to $160.00 in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.35.
AbbVie 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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