StrongBox Wealth LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 8.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,821 shares of the company's stock after selling 1,506 shares during the period. AbbVie accounts for 1.7% of StrongBox Wealth LLC's investment portfolio, making the stock its 18th largest position. StrongBox Wealth LLC's holdings in AbbVie were worth $2,576,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the business. Gilman Hill Asset Management LLC lifted its stake in shares of AbbVie by 25.2% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 79,722 shares of the company's stock valued at $12,210,000 after purchasing an additional 16,044 shares during the last quarter. Five Oceans Advisors lifted its stake in AbbVie by 43.7% during the 2nd quarter. Five Oceans Advisors now owns 4,586 shares of the company's stock worth $702,000 after acquiring an additional 1,394 shares in the last quarter. Mayport LLC lifted its stake in AbbVie by 8.1% during the 2nd quarter. Mayport LLC now owns 5,420 shares of the company's stock worth $830,000 after acquiring an additional 404 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in AbbVie by 8.4% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 3,883 shares of the company's stock worth $597,000 after acquiring an additional 301 shares in the last quarter. Finally, PDS Planning Inc lifted its stake in AbbVie by 1.4% during the 2nd quarter. PDS Planning Inc now owns 123,473 shares of the company's stock worth $18,911,000 after acquiring an additional 1,721 shares in the last quarter. Institutional investors and hedge funds own 68.25% of the company's stock.
Get AbbVie alerts:Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on ABBV shares. Morgan Stanley decreased their target price on AbbVie from $191.00 to $188.00 and set an "overweight" rating on the stock in a research note on Monday, August 1st. Piper Sandler decreased their target price on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Atlantic Securities decreased their target price on AbbVie from $178.00 to $162.00 and set a "neutral" rating on the stock in a research note on Monday, August 1st. Argus cut their price target on AbbVie from $165.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday, August 24th. Finally, UBS Group cut their price target on AbbVie from $154.00 to $146.00 and set a "neutral" rating on the stock in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $159.35.
AbbVie Trading Up 0.0 %
ABBV opened at $143.06 on Friday. AbbVie Inc. has a one year low of $106.44 and a one year high of $175.91. The company has a market cap of $252.94 billion, a P/E ratio of 20.26, a PEG ratio of 4.02 and a beta of 0.72. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. The business's 50-day simple moving average is $141.77 and its 200-day simple moving average is $149.53.AbbVie (NYSE:ABBV – Get Rating) last released its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.42 by $0.09. The business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.11 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 14.05 EPS for the current fiscal year.
AbbVie Announces Dividend
The company also recently announced 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. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a dividend 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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