Middleton & Co. Inc. MA trimmed its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 9.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,617 shares of the company's stock after selling 11,081 shares during the quarter. AbbVie comprises approximately 2.1% of Middleton & Co. Inc. MA's portfolio, making the stock its 12th biggest position. Middleton & Co. Inc. MA's holdings in AbbVie were worth $16,176,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC World Markets Inc. boosted its holdings in shares of AbbVie by 8.5% in the fourth quarter. CIBC World Markets Inc. now owns 914,271 shares of the company's stock valued at $123,792,000 after acquiring an additional 71,938 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of AbbVie by 31.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 17,381 shares of the company's stock worth $2,353,000 after purchasing an additional 4,131 shares during the period. Monetary Management Group Inc. lifted its holdings in shares of AbbVie by 5.7% during the fourth quarter. Monetary Management Group Inc. now owns 52,080 shares of the company's stock worth $7,052,000 after purchasing an additional 2,800 shares during the period. MML Investors Services LLC lifted its holdings in shares of AbbVie by 1.8% during the fourth quarter. MML Investors Services LLC now owns 349,413 shares of the company's stock worth $47,310,000 after purchasing an additional 6,319 shares during the period. Finally, Mirova lifted its holdings in shares of AbbVie by 81.2% during the fourth quarter. Mirova now owns 10,783 shares of the company's stock worth $1,460,000 after purchasing an additional 4,831 shares during the period. 68.25% of the stock is owned by institutional investors and hedge funds.
Get AbbVie alerts:Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on ABBV shares. Piper Sandler decreased their price target on AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Barclays decreased their price target on AbbVie to $160.00 in a report on Tuesday, August 9th. Morgan Stanley cut 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. Atlantic Securities cut their price objective on AbbVie from $178.00 to $162.00 and set a "neutral" rating for the company in a research report on Monday, August 1st. Finally, Argus cut 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $159.35.
AbbVie Trading Down 6.0 %
Shares of ABBV stock opened at $134.21 on Monday. AbbVie Inc. has a fifty-two week low of $106.86 and a fifty-two week high of $175.91. The stock has a market cap of $237.30 billion, a P/E ratio of 19.01, a P/E/G ratio of 4.01 and a beta of 0.72. The business has a fifty day simple moving average of $141.00 and a 200-day simple moving average of $149.06. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 4.15.AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.42 by $0.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.11 EPS. On average, analysts forecast that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors 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 yield of 4.20%. The ex-dividend date is Thursday, October 13th. AbbVie's dividend payout ratio is presently 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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