Welch Group LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,861 shares of the company's stock after selling 7,446 shares during the quarter. AbbVie makes up about 3.5% of Welch Group LLC's portfolio, making the stock its 3rd biggest position. Welch Group LLC's holdings in AbbVie were worth $56,801,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Coastal Bridge Advisors LLC bought a new stake in AbbVie during the 4th quarter valued at $215,000. CastleKnight Management LP acquired a new stake in shares of AbbVie in the 4th quarter worth $325,000. Capital Planning Advisors LLC acquired a new stake in shares of AbbVie in the 4th quarter worth $207,000. Capital International Investors boosted its position in shares of AbbVie by 19.7% in the 4th quarter. Capital International Investors now owns 11,615,068 shares of the company's stock worth $1,572,680,000 after purchasing an additional 1,913,451 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its position in shares of AbbVie by 8.5% in the 4th quarter. CIBC World Markets Inc. now owns 914,271 shares of the company's stock worth $123,792,000 after purchasing an additional 71,938 shares in the last quarter. Institutional investors own 68.25% of the company's stock.
Get AbbVie alerts:AbbVie Stock Performance
NYSE ABBV opened at $134.21 on Friday. The stock has a 50-day simple moving average of $141.00 and a two-hundred day simple moving average of $149.13. The firm has a market capitalization of $237.30 billion, a P/E ratio of 19.01, a PEG ratio of 4.01 and a beta of 0.72. AbbVie Inc. has a fifty-two week low of $106.86 and a fifty-two week high of $175.91. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84.
AbbVie (NYSE:ABBV – Get Rating) last released its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share 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 return on equity of 158.41% and a net margin of 22.03%. The company's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $3.11 EPS. On average, equities analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.AbbVie Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Thursday, October 13th. AbbVie's dividend payout ratio (DPR) is presently 79.89%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on ABBV shares. Morgan Stanley lowered their price objective on AbbVie from $191.00 to $188.00 and set an "overweight" rating for the company in a research report on Monday, August 1st. Argus lowered their price objective on AbbVie from $165.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday, August 24th. Piper Sandler reduced their target price on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Barclays reduced their target price on AbbVie to $160.00 in a research note on Tuesday, August 9th. Finally, Atlantic Securities reduced their target price on AbbVie from $178.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average 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.
Further Reading
- Get a free copy of the StockNews.com research report on AbbVie (ABBV)
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