AbbVie Inc. (NYSE:ABBV) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 1.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,115 shares of the company’s stock after selling 601 shares during the period. AbbVie makes up 2.3% of Pathway Financial Advisers LLC’s portfolio, making the stock its 4th largest holding. Pathway Financial Advisers LLC’s holdings in AbbVie were worth $6,729,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. GAMMA Investing LLC lifted its holdings in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after buying an additional 10,195,284 shares in the last quarter. FMR LLC increased its position in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after acquiring an additional 4,466,971 shares during the period. Northern Trust Corp boosted its holdings in AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock valued at $3,878,236,000 after purchasing an additional 2,299,645 shares during the period. Deutsche Bank AG boosted its holdings in AbbVie by 27.4% in the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company’s stock valued at $1,735,969,000 after purchasing an additional 2,102,273 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of AbbVie by 18.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company’s stock worth $2,142,832,000 after purchasing an additional 1,882,780 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 3.3%

Shares of NYSE ABBV opened at $195.17 on Friday. The firm has a 50 day moving average price of $188.33 and a two-hundred day moving average price of $190.17. The stock has a market cap of $344.75 billion, a P/E ratio of 92.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.50. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.65 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is currently 279.15%.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Raymond James Financial lifted their price objective on AbbVie from $227.00 to $236.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley increased their target price on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America boosted their price target on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Finally, Guggenheim increased their price objective on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.81.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.