Alpha Omega Wealth Management LLC decreased its stake in AbbVie Inc. (NYSE:ABBV – Get Rating) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,270 shares of the company's stock after selling 1,216 shares during the quarter. AbbVie makes up 1.8% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 7th biggest holding. Alpha Omega Wealth Management LLC's holdings in AbbVie were worth $9,997,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrive Wealth Management LLC increased its position in AbbVie by 10.3% in the second quarter. Thrive Wealth Management LLC now owns 3,391 shares of the company's stock worth $519,000 after buying an additional 318 shares in the last quarter. Sound Income Strategies LLC increased its position in AbbVie by 2.5% in the second quarter. Sound Income Strategies LLC now owns 84,866 shares of the company's stock worth $12,998,000 after buying an additional 2,058 shares in the last quarter. HB Wealth Management LLC increased its position in AbbVie by 40.7% in the second quarter. HB Wealth Management LLC now owns 63,498 shares of the company's stock worth $9,725,000 after buying an additional 18,353 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of AbbVie by 2.9% during the second quarter. Parkside Financial Bank & Trust now owns 8,697 shares of the company's stock worth $1,332,000 after purchasing an additional 242 shares in the last quarter. Finally, Minot Wealth Management LLC grew its position in shares of AbbVie by 1.2% during the first quarter. Minot Wealth Management LLC now owns 66,161 shares of the company's stock worth $10,725,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 68.25% of the company's stock.
Get AbbVie alerts:AbbVie Price Performance
NYSE:ABBV opened at $134.21 on Friday. The firm has a market capitalization of $237.30 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 4.01 and a beta of 0.72. AbbVie Inc. has a 1 year low of $106.86 and a 1 year high of $175.91. The business has a 50 day simple moving average of $141.00 and a 200-day simple moving average of $149.13. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.84 and a quick ratio of 0.75.
AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 158.41% and a net margin of 22.03%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $3.11 EPS. Equities analysts forecast that AbbVie Inc. will post 14.05 EPS for the current year.AbbVie Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Thursday, October 13th. AbbVie's payout ratio is 79.89%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. UBS Group cut their target price on AbbVie from $154.00 to $146.00 and set a "neutral" rating for the company in a research report on Monday, August 1st. Morgan Stanley cut their target price on AbbVie from $191.00 to $188.00 and set an "overweight" rating for the company in a research report on Monday, August 1st. Atlantic Securities cut their target price on AbbVie from $178.00 to $162.00 and set a "neutral" rating for the company in a research report on Monday, August 1st. Barclays cut their target price on AbbVie to $160.00 in a research report on Tuesday, August 9th. Finally, Argus cut their target price on AbbVie from $165.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday, August 24th. 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $159.35.
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.
Further Reading
- Get a free copy of the StockNews.com research report on AbbVie (ABBV)
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