American Institute for Advanced Investment Management LLP reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,837 shares of the company's stock after selling 230 shares during the period. American Institute for Advanced Investment Management LLP's holdings in AbbVie were worth $894,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Intelligent Financial Strategies purchased a new position in AbbVie in the fourth quarter worth about $27,000. Psagot Value Holdings Ltd. Israel raised its holdings in AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company's stock worth $28,000 after buying an additional 3,300 shares during the last quarter. GoalVest Advisory LLC purchased a new position in AbbVie in the first quarter worth about $33,000. Joseph P. Lucia & Associates LLC purchased a new position in AbbVie in the first quarter worth about $34,000. Finally, Landmark Wealth Management LLC purchased a new position in AbbVie in the first quarter worth about $42,000. 68.25% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Argus reduced their price target on shares of AbbVie from $165.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, August 24th. UBS Group reduced their price target on shares of AbbVie from $154.00 to $146.00 and set a "neutral" rating for the company in a research note on Monday, August 1st. Barclays reduced their price target on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Finally, Atlantic Securities reduced their price target on shares of AbbVie from $178.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average price target of $159.35.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $134.21 on Friday. The firm has a 50 day moving average of $141.00 and a 200 day moving average 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. The firm has a market capitalization 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. AbbVie Inc. has a 12-month low of $106.86 and a 12-month high of $175.91.

AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, topping 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 net margin of 22.03% and a return on equity of 158.41%. The company's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.11 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $1.41 dividend. The ex-dividend date is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 4.20%. AbbVie's payout ratio is currently 79.89%.

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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