Dfpg Investments LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 0.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,273 shares of the company’s stock after selling 116 shares during the quarter. AbbVie accounts for approximately 1.0% of Dfpg Investments LLC’s investment portfolio, making the stock its 29th largest holding. Dfpg Investments LLC’s holdings in AbbVie were worth $2,284,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Ascent Group LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $394,000. Marks Group Wealth Management Inc acquired a new stake in AbbVie in the fourth quarter valued at approximately $249,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $192,000. City State Bank acquired a new position in shares of AbbVie during the fourth quarter worth $1,433,000. Finally, Psagot Value Holdings Ltd. Israel boosted its stake in shares of AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $590,000 after purchasing an additional 3,300 shares during the period. 68.25% of the stock is owned by institutional investors and hedge funds.
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Analyst Ratings Changes
A number of brokerages have commented on ABBV. StockNews.com initiated coverage on shares of AbbVie in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Piper Sandler cut their price target on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Argus lowered their price objective on AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, August 24th. Morgan Stanley cut their target price on AbbVie from $188.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 11th. Finally, SVB Leerink decreased their price target on shares of AbbVie from $140.00 to $135.00 and set an “underperform” rating for the company in a research report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.88.
AbbVie Price Performance
Shares of NYSE:ABBV opened at $142.94 on Monday. The company has a market cap of $252.73 billion, a PE ratio of 20.25, a P/E/G ratio of 4.07 and a beta of 0.67. AbbVie Inc. has a fifty-two week low of $106.86 and a fifty-two week high of $175.91. The firm has a 50-day simple moving average of $140.28 and a 200 day simple moving average of $147.67. 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 issued its earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. AbbVie’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.11 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.06 EPS for the current year.
AbbVie Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, October 13th. AbbVie’s payout ratio is 79.89%.
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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