AbbVie Inc. (NYSE:ABBV) Shares Sold by Independent Investors Inc.

Independent Investors Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBVGet Rating) by 4.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,388 shares of the company’s stock after selling 2,330 shares during the quarter. AbbVie comprises approximately 1.9% of Independent Investors Inc.’s portfolio, making the stock its 8th biggest position. Independent Investors Inc.’s holdings in AbbVie were worth $6,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HBK Investments L P boosted its holdings in shares of AbbVie by 52.6% in the fourth quarter. HBK Investments L P now owns 11,098 shares of the company’s stock valued at $1,503,000 after acquiring an additional 3,827 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of AbbVie by 12.2% in the fourth quarter. Nuveen Asset Management LLC now owns 16,331,749 shares of the company’s stock valued at $2,211,319,000 after acquiring an additional 1,771,090 shares during the period. Unigestion Holding SA boosted its holdings in shares of AbbVie by 87.0% in the fourth quarter. Unigestion Holding SA now owns 158,723 shares of the company’s stock valued at $21,491,000 after acquiring an additional 73,850 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of AbbVie by 1.2% in the fourth quarter. IHT Wealth Management LLC now owns 42,479 shares of the company’s stock valued at $5,752,000 after acquiring an additional 511 shares during the period. Finally, Odey Asset Management Group Ltd acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $1,693,000. 68.25% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 1.9 %

Shares of ABBV stock opened at $143.01 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 4.15. The stock has a market cap of $252.86 billion, a P/E ratio of 20.26, a P/E/G ratio of 3.98 and a beta of 0.72. AbbVie Inc. has a fifty-two week low of $106.44 and a fifty-two week high of $175.91. The business has a fifty day simple moving average of $141.99 and a 200-day simple moving average of $149.56.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.11 earnings per share. On average, analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, October 13th. AbbVie’s payout ratio is currently 79.89%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ABBV shares. Morgan Stanley cut their price target on AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a research note on Monday, August 1st. Piper Sandler cut their price target on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Argus cut their price target on AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, August 24th. Atlantic Securities cut their price target on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, August 1st. Finally, Barclays cut their price target on AbbVie to $160.00 in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $159.35.

AbbVie Company Profile

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Read More

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVGet Rating).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.