Psagot Investment House Ltd. lowered its position in AbbVie Inc (NYSE:ABBV) by 26.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,650 shares of the company’s stock after selling 6,550 shares during the quarter. Psagot Investment House Ltd.’s holdings in AbbVie were worth $1,765,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in ABBV. Jennison Associates LLC grew its stake in AbbVie by 85.3% in the fourth quarter. Jennison Associates LLC now owns 11,353,745 shares of the company’s stock worth $1,098,021,000 after purchasing an additional 5,227,056 shares in the last quarter. Capital International Investors boosted its position in AbbVie by 137.7% during the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock valued at $697,989,000 after acquiring an additional 4,550,954 shares in the last quarter. BlackRock Inc. boosted its position in AbbVie by 2.8% during the 4th quarter. BlackRock Inc. now owns 101,322,201 shares of the company’s stock valued at $9,798,871,000 after acquiring an additional 2,714,857 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in AbbVie during the 4th quarter valued at $135,027,000. Finally, Swedbank bought a new stake in AbbVie during the 4th quarter valued at $130,841,000. 69.40% of the stock is currently owned by institutional investors.
Several analysts have issued reports on ABBV shares. Deutsche Bank cut AbbVie from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $125.86 to $65.61 in a research report on Wednesday, May 30th. Goldman Sachs Group cut AbbVie from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, May 24th. BMO Capital Markets dropped their target price on AbbVie from $81.00 to $78.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 23rd. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Finally, Bank of America set a $120.00 target price on AbbVie and gave the company a “hold” rating in a research report on Monday, March 26th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $106.51.
Shares of ABBV opened at $99.57 on Monday. The firm has a market cap of $158.01 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 8.70. AbbVie Inc has a 12 month low of $69.38 and a 12 month high of $125.86.
AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.08. The company had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.60 billion. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. analysts forecast that AbbVie Inc will post 7.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.86%. AbbVie’s dividend payout ratio (DPR) is 68.57%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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