Bowling Portfolio Management LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,516 shares of the company's stock after selling 1,120 shares during the period. AbbVie accounts for about 1.0% of Bowling Portfolio Management LLC's investment portfolio, making the stock its 21st biggest holding. Bowling Portfolio Management LLC's holdings in AbbVie were worth $4,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ABBV. Intelligent Financial Strategies purchased a new stake in AbbVie during the fourth quarter worth $27,000. Psagot Value Holdings Ltd. Israel lifted its holdings in shares of AbbVie by 311.3% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company's stock valued at $28,000 after purchasing an additional 3,300 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at $33,000. Joseph P. Lucia & Associates LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at $34,000. Finally, Landmark Wealth Management LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 68.25% of the company's stock.

AbbVie Price Performance

Shares of ABBV opened at $134.21 on Monday. The business's 50-day moving average is $141.00 and its two-hundred day moving average is $149.06. The company has a market capitalization 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 company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. AbbVie Inc. has a fifty-two week low of $106.86 and a fifty-two week high of $175.91.

AbbVie Announces Dividend

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 of this dividend is Thursday, October 13th. AbbVie's dividend payout ratio (DPR) is presently 79.89%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABBV shares. Morgan Stanley decreased their price objective on AbbVie from $191.00 to $188.00 and set an "overweight" rating for the company in a report on Monday, August 1st. Barclays decreased their price objective on AbbVie to $160.00 in a report on Tuesday, August 9th. UBS Group decreased their price objective on AbbVie from $154.00 to $146.00 and set a "neutral" rating for the company in a report on Monday, August 1st. Argus decreased their price objective on AbbVie from $165.00 to $155.00 and set a "buy" rating for the company in a report on Wednesday, August 24th. 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 equities 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.35.

AbbVie Profile

(Get Rating)

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.

Featured Stories

• Get a free copy of the StockNews.com research report on AbbVie (ABBV)
• Archer Daniels Midland: Dividend Hero With 49 Years Of Increases
• Will Fully Autonomous Tractors Make Deere the Tesla of Farming?
• Magna International is Your Auto and EV One-Stop Shop Stock
• EV Battery Maker Freyr Set For Major Global Expansion
• MarketBeat: Week in Review 9/26 – 9/30

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Get Rating).

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.