Kepler Cheuvreux Suisse SA Sells 4,696 Shares of AbbVie Inc. $ABBV

Kepler Cheuvreux Suisse SA trimmed its position in AbbVie Inc. (NYSE:ABBV) by 3.4% in the first quarter, Holdings Channel.com reports. The firm owned 132,518 shares of the company’s stock after selling 4,696 shares during the period. AbbVie comprises approximately 2.0% of Kepler Cheuvreux Suisse SA’s portfolio, making the stock its 13th largest holding. Kepler Cheuvreux Suisse SA’s holdings in AbbVie were worth $28,818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new stake in shares of AbbVie during the 3rd quarter worth approximately $26,000. Litman Gregory Wealth Management LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $28,000. Imprint Wealth LLC lifted its holdings in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares during the period. Westend Capital Management LLC bought a new position in AbbVie in the fourth quarter valued at approximately $29,000. Finally, IFC & Insurance Marketing Inc. acquired a new stake in AbbVie during the 4th quarter worth $31,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.1%

ABBV opened at $260.88 on Friday. AbbVie Inc. has a 12 month low of $184.63 and a 12 month high of $261.64. The company has a fifty day simple moving average of $220.19 and a 200 day simple moving average of $220.30. The stock 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 (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm 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. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie’s payout ratio is currently 340.89%.

Wall Street Analyst Weigh In

Several brokerages have commented on ABBV. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price for the company in a research report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Piper Sandler restated an “overweight” rating and set a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $253.81.

About AbbVie

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.