Signature Estate & Investment Advisors LLC Has $368,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Signature Estate & Investment Advisors LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 4.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,408 shares of the company’s stock after selling 125 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in AbbVie were worth $368,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ABBV. Capital International Investors raised its stake in AbbVie by 162.6% in the first quarter. Capital International Investors now owns 30,497,767 shares of the company’s stock valued at $4,943,993,000 after buying an additional 18,882,699 shares during the period. Norges Bank bought a new stake in AbbVie in the fourth quarter valued at approximately $2,433,269,000. Vanguard Group Inc. raised its stake in AbbVie by 2.9% in the first quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after buying an additional 4,206,711 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in AbbVie by 426.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after buying an additional 3,768,579 shares during the period. Finally, State Street Corp raised its stake in AbbVie by 3.4% in the fourth quarter. State Street Corp now owns 79,357,705 shares of the company’s stock valued at $10,745,033,000 after buying an additional 2,597,076 shares during the period. 68.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. Argus dropped their price objective on AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. Barclays dropped their price objective on AbbVie to $160.00 in a research note on Tuesday, August 9th. Morgan Stanley lowered their target price on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research note on Monday, August 1st. UBS Group lowered their target price on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Finally, Atlantic Securities lowered their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $159.35.

AbbVie Trading Up 1.9 %

Shares of ABBV stock opened at $143.01 on Friday. The stock’s fifty day moving average price is $141.99 and its two-hundred day moving average price is $149.56. The company has a market cap of $252.86 billion, a PE 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 company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84.

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

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a $1.41 dividend. 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 dividend payout ratio is presently 79.89%.

About AbbVie

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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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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