Pflug Koory LLC reduced its stake in AbbVie Inc (NYSE:ABBV) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,289 shares of the company’s stock after selling 292 shares during the period. Pflug Koory LLC’s holdings in AbbVie were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Smith Asset Management Group LP lifted its position in shares of AbbVie by 263,372.1% in the second quarter. Smith Asset Management Group LP now owns 113,293 shares of the company’s stock worth $8,239,000 after buying an additional 113,250 shares during the last quarter. Ellington Management Group LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $1,098,000. SRB Corp acquired a new position in shares of AbbVie during the 2nd quarter worth about $440,000. Vanguard Group Inc. increased its stake in AbbVie by 0.6% during the second quarter. Vanguard Group Inc. now owns 121,523,538 shares of the company’s stock valued at $8,837,192,000 after acquiring an additional 679,398 shares during the period. Finally, Circle Wealth Management LLC grew its stake in shares of AbbVie by 54.8% in the 2nd quarter. Circle Wealth Management LLC now owns 4,852 shares of the company’s stock valued at $353,000 after purchasing an additional 1,717 shares during the period. Institutional investors own 70.42% of the company’s stock.
Several equities research analysts have recently weighed in on ABBV shares. Bank of America lowered AbbVie from a “buy” rating to a “neutral” rating in a research note on Friday, January 3rd. UBS Group upped their price objective on AbbVie from $79.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Citigroup upped their price objective on AbbVie from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Cowen upped their price objective on AbbVie from $90.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. AbbVie currently has a consensus rating of “Hold” and a consensus target price of $86.33.
NYSE ABBV opened at $88.20 on Wednesday. The firm has a market cap of $131.70 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 2.10 and a beta of 0.97. AbbVie Inc has a one year low of $62.66 and a one year high of $91.99. The stock’s 50 day simple moving average is $88.47 and its 200 day simple moving average is $76.77.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, November 1st. The company reported $2.33 EPS for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.04. The business had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a negative return on equity of 155.96% and a net margin of 9.90%. AbbVie’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.14 EPS. On average, research analysts anticipate that AbbVie Inc will post 8.93 earnings per share for the current year.
The firm also recently declared a — dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.18 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from AbbVie’s previous — dividend of $1.07. This represents a yield of 5.93%. AbbVie’s dividend payout ratio is 54.11%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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