UMB Bank n.a. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,491 shares of the company's stock after acquiring an additional 4,056 shares during the quarter. UMB Bank n.a.'s holdings in AbbVie were worth $33,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital International Investors grew its position in shares of AbbVie by 162.6% during the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company's stock valued at $4,943,993,000 after purchasing an additional 18,882,699 shares in the last quarter. Norges Bank purchased a new position in shares of AbbVie during the 4th quarter valued at $2,433,269,000. Vanguard Group Inc. grew its position in shares of AbbVie by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company's stock valued at $24,400,600,000 after purchasing an additional 4,206,711 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of AbbVie by 426.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company's stock valued at $754,155,000 after purchasing an additional 3,768,579 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in AbbVie by 37.6% in the first quarter. California Public Employees Retirement System now owns 5,414,949 shares of the company's stock worth $877,817,000 after acquiring an additional 1,480,867 shares in the last quarter. Institutional investors own 68.25% of the company's stock.
Get AbbVie alerts:Analyst Upgrades and Downgrades
ABBV has been the subject of several research reports. Atlantic Securities cut their target price on shares of AbbVie from $178.00 to $162.00 and set a "neutral" rating for the company in a research report on Monday, August 1st. UBS Group cut their target price on shares of 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 shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating for the company in a research report on Monday, August 1st. Barclays cut their target price on shares of AbbVie to $160.00 in a research report on Tuesday, August 9th. Finally, Argus cut their target price on shares of AbbVie from $165.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.35.
AbbVie Stock Performance
Shares of NYSE:ABBV opened at $134.21 on Friday. The company has a market cap of $237.30 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 4.01 and a beta of 0.72. The company has a 50-day moving average price of $141.00 and a 200-day moving average price of $149.13. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. AbbVie Inc. has a 12 month low of $106.86 and a 12 month high of $175.91.AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating the consensus estimate of $3.42 by $0.09. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.11 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current year.
AbbVie Announces Dividend
The company 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 dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie's dividend payout ratio (DPR) is 79.89%.
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.
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