Kepler Cheuvreux Suisse SA lessened its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,518 shares of the company’s stock after selling 4,696 shares during the period. AbbVie makes up 2.0% of Kepler Cheuvreux Suisse SA’s portfolio, making the stock its 13th biggest position. Kepler Cheuvreux Suisse SA’s holdings in AbbVie were worth $28,818,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Bank of Jackson Hole Trust grew its stake in shares of AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock valued at $1,648,000 after purchasing an additional 44 shares during the period. Eclectic Associates Inc. ADV lifted its position in shares of AbbVie by 0.8% during the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock worth $1,337,000 after buying an additional 45 shares during the period. Imprint Wealth LLC lifted its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the period. Hardin Capital Partners LLC boosted its stake in AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after buying an additional 46 shares in the last quarter. Finally, Dogwood Wealth Management LLC grew its position in AbbVie by 10.8% in the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock valued at $108,000 after acquiring an additional 46 shares during the period. Institutional investors own 70.23% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of AbbVie in a report on Tuesday, June 23rd. Wells Fargo & Company set a $260.00 price target on shares of AbbVie in a report on Monday, June 22nd. Evercore set a $235.00 price target on shares of AbbVie in a research report on Friday, May 15th. Piper Sandler reaffirmed an “overweight” rating and set a $298.00 price objective on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.81.
AbbVie Stock Down 0.1%
Shares of NYSE:ABBV opened at $260.88 on Friday. The firm has a market cap of $460.92 billion, a P/E ratio of 128.51, a P/E/G ratio of 0.86 and a beta of 0.30. AbbVie Inc. has a 12 month low of $184.63 and a 12 month high of $261.64. The company’s 50-day moving average price is $220.19 and its two-hundred day moving average price is $220.30.
AbbVie (NYSE:ABBV – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts predict that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is 340.89%.
AbbVie Company Profile
AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.
AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.
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