ProShare Advisors LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 13.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,352,532 shares of the company’s stock after selling 207,457 shares during the quarter. AbbVie comprises approximately 0.7% of ProShare Advisors LLC’s holdings, making the stock its 23rd largest position. ProShare Advisors LLC owned approximately 0.08% of AbbVie worth $207,153,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Sanders Morris Harris LLC grew its holdings in AbbVie by 0.3% during the first quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company’s stock worth $3,755,000 after purchasing an additional 62 shares during the period. ICW Investment Advisors LLC grew its holdings in AbbVie by 0.3% during the first quarter. ICW Investment Advisors LLC now owns 23,418 shares of the company’s stock worth $3,796,000 after purchasing an additional 65 shares during the period. Sax Wealth Advisors LLC grew its holdings in AbbVie by 0.9% during the first quarter. Sax Wealth Advisors LLC now owns 7,618 shares of the company’s stock worth $1,235,000 after purchasing an additional 66 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. grew its holdings in AbbVie by 0.4% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 17,615 shares of the company’s stock worth $2,856,000 after purchasing an additional 67 shares during the period. Finally, Wealth Architects LLC grew its holdings in AbbVie by 1.5% during the first quarter. Wealth Architects LLC now owns 4,511 shares of the company’s stock worth $731,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 68.25% of the company’s stock.
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Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on ABBV shares. StockNews.com started coverage on AbbVie in a report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Atlantic Securities reduced their price objective on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, August 1st. Piper Sandler reduced their price objective on AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Barclays reduced their price objective on AbbVie to $160.00 in a report on Tuesday, August 9th. Finally, Argus reduced 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.88.
AbbVie Stock Up 0.0 %
Shares of ABBV opened at $142.94 on Monday. AbbVie Inc. has a one year low of $106.86 and a one year high of $175.91. The company has a market cap of $252.73 billion, a P/E ratio of 20.25, a P/E/G ratio of 4.07 and a beta of 0.67. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.84 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $140.28 and a two-hundred day simple moving average of $147.67.
AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating the consensus estimate of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the previous year, the business earned $3.11 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 14.06 EPS for the current fiscal 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 dividend of $1.41 per share. The ex-dividend date is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.95%. AbbVie’s payout ratio is presently 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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