Rehmann Capital Advisory Group Acquires 180 Shares of AbbVie Inc. (NYSE:ABBV)

Rehmann Capital Advisory Group lifted its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 1.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,218 shares of the company’s stock after purchasing an additional 180 shares during the period. Rehmann Capital Advisory Group’s holdings in AbbVie were worth $2,407,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ABBV. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $3,229,888,000. International Assets Investment Management LLC bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $499,955,000. Capital International Investors boosted its holdings in shares of AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after acquiring an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of AbbVie by 39.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after acquiring an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Tuesday. Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Piper Sandler reiterated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Tuesday, July 2nd. Finally, Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

Get Our Latest Stock Analysis on AbbVie

AbbVie Price Performance

NYSE:ABBV traded down $1.32 during mid-day trading on Wednesday, reaching $166.73. The stock had a trading volume of 1,805,976 shares, compared to its average volume of 5,603,415. The stock has a 50-day simple moving average of $164.79 and a two-hundred day simple moving average of $168.27. The stock has a market capitalization of $294.42 billion, a PE ratio of 49.84, a P/E/G ratio of 2.26 and a beta of 0.64. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 12 month low of $132.70 and a 12 month high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 10.61 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.72%. AbbVie’s payout ratio is presently 183.98%.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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