Sunpointe LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 12.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,859 shares of the company’s stock after selling 542 shares during the period. Sunpointe LLC’s holdings in AbbVie were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Abound Financial LLC purchased a new position in AbbVie in the 1st quarter worth about $30,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie during the 4th quarter valued at about $32,000. Siemens Fonds Invest GmbH boosted its position in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares during the period. Finally, Cypress Capital Management LLC WY bought a new position in AbbVie in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.
Analyst Ratings Changes
ABBV has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Citigroup lifted their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Guggenheim upped their target price on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.29.
AbbVie Stock Down 0.3%
Shares of ABBV stock opened at $190.22 on Monday. The stock’s fifty day moving average price is $187.62 and its 200 day moving average price is $189.85. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company has a market cap of $336.00 billion, a price-to-earnings ratio of 80.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.
AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 12.31 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 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie’s payout ratio is currently 279.15%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.
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