Osaic Holdings Inc. lifted its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 46.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,512,217 shares of the company’s stock after acquiring an additional 480,034 shares during the period. Osaic Holdings Inc. owned 0.09% of AbbVie worth $130,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. raised its position in AbbVie by 5.0% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 372,189 shares of the company’s stock valued at $50,154,000 after purchasing an additional 17,879 shares during the period. DDD Partners LLC increased its holdings in AbbVie by 9,979.7% during the 2nd quarter. DDD Partners LLC now owns 135,673 shares of the company’s stock worth $18,279,000 after purchasing an additional 134,327 shares during the period. Sand Hill Global Advisors LLC increased its holdings in AbbVie by 0.4% during the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock worth $2,989,000 after purchasing an additional 68 shares during the period. Bank of Montreal Can acquired a new position in shares of AbbVie during the 2nd quarter worth about $486,807,000. Finally, Wintrust Investments LLC boosted its position in shares of AbbVie by 39.4% during the 2nd quarter. Wintrust Investments LLC now owns 37,140 shares of the company’s stock worth $5,004,000 after acquiring an additional 10,493 shares in the last quarter. 67.86% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
ABBV has been the subject of several research analyst reports. Piper Sandler raised their price objective on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Piper Sandler Companies boosted their price target on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Deutsche Bank Aktiengesellschaft initiated coverage on AbbVie in a research note on Thursday, November 9th. They set a “hold” rating and a $150.00 price objective on the stock. Morgan Stanley boosted their price target on AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Finally, UBS Group lowered their price objective on AbbVie from $157.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, October 20th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.69.
AbbVie Price Performance
NYSE ABBV traded down $0.32 during trading on Monday, reaching $137.98. 1,285,254 shares of the company traded hands, compared to its average volume of 5,508,937. The company has a debt-to-equity ratio of 4.59, a quick ratio of 0.84 and a current ratio of 0.96. The stock’s 50 day moving average price is $146.58 and its two-hundred day moving average price is $143.95. The company has a market cap of $243.61 billion, a price-to-earnings ratio of 37.89, a P/E/G ratio of 2.45 and a beta of 0.51. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $168.11.
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings data on Friday, October 27th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.09. The company had revenue of $13.93 billion for the quarter, compared to the consensus estimate of $13.72 billion. AbbVie had a return on equity of 152.70% and a net margin of 11.81%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.66 earnings per share. As a group, analysts anticipate that AbbVie Inc. will post 11.24 EPS for the current year.
AbbVie Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be given a dividend of $1.55 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Friday, January 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.49%. AbbVie’s payout ratio is presently 169.86%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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