Heritage Investors Management Corp reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 78,593 shares of the company’s stock after selling 215 shares during the period. Heritage Investors Management Corp’s holdings in AbbVie were worth $12,037,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Core Alternative Capital lifted its position in AbbVie by 59.7% during the second quarter. Core Alternative Capital now owns 2,888 shares of the company’s stock valued at $442,000 after buying an additional 1,080 shares in the last quarter. Schubert & Co lifted its position in shares of AbbVie by 1,136.2% during the second quarter. Schubert & Co now owns 1,879 shares of the company’s stock worth $288,000 after purchasing an additional 1,727 shares in the last quarter. Smith Salley & Associates lifted its position in shares of AbbVie by 3.2% during the second quarter. Smith Salley & Associates now owns 192,478 shares of the company’s stock worth $29,480,000 after purchasing an additional 5,945 shares in the last quarter. Calamos Advisors LLC lifted its position in shares of AbbVie by 2.0% during the second quarter. Calamos Advisors LLC now owns 645,980 shares of the company’s stock worth $98,938,000 after purchasing an additional 12,694 shares in the last quarter. Finally, Osborne Partners Capital Management LLC raised its holdings in AbbVie by 266.4% in the second quarter. Osborne Partners Capital Management LLC now owns 13,442 shares of the company’s stock valued at $2,059,000 after acquiring an additional 9,773 shares in the last quarter. 68.25% of the stock is currently owned by hedge funds and other institutional investors.
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Analysts Set New Price Targets
ABBV has been the topic of several recent analyst reports. Piper Sandler cut their price target on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Argus cut their price target on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. UBS Group cut their price target on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Atlantic Securities cut their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Finally, StockNews.com initiated coverage on shares of AbbVie in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.88.
AbbVie Stock Up 0.0 %
AbbVie stock opened at $142.94 on Monday. The company has a 50-day simple moving average of $140.28 and a 200-day simple moving average of $147.67. The firm has a market capitalization 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 quick ratio of 0.75 and a current ratio of 0.84. AbbVie Inc. has a one year low of $106.86 and a one year high of $175.91.
AbbVie (NYSE:ABBV – Get Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.42 by $0.09. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.11 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 14.06 earnings per share for the current year.
AbbVie Announces Dividend
The company also recently declared 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. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 annualized dividend and a dividend yield of 3.95%. AbbVie’s dividend payout ratio is currently 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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