AbbVie Inc. (NYSE:ABBV) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. decreased its position in AbbVie Inc. (NYSE:ABBVFree Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,173 shares of the company’s stock after selling 780 shares during the quarter. Gold Investment Management Ltd.’s holdings in AbbVie were worth $2,217,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC purchased a new stake in AbbVie during the 4th quarter worth about $26,000. Able Wealth Management LLC bought a new position in AbbVie during the 4th quarter worth $33,000. IFS Advisors LLC bought a new position in shares of AbbVie in the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of AbbVie during the first quarter valued at $37,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABBV. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Piper Sandler restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Tuesday, July 2nd. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets dropped their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.07.

View Our Latest Report on AbbVie

AbbVie Stock Performance

ABBV stock traded up $0.09 on Wednesday, hitting $168.14. The company had a trading volume of 3,837,226 shares, compared to its average volume of 5,619,299. The stock’s 50-day simple moving average is $164.92 and its 200 day simple moving average is $168.27. The stock has a market cap of $296.91 billion, a price-to-earnings ratio of 49.89, a P/E/G ratio of 2.26 and a beta of 0.64. AbbVie Inc. has a 12-month low of $132.70 and a 12-month high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The business 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 business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 10.61 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. 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 3.69%. AbbVie’s dividend payout ratio is currently 183.98%.

AbbVie Company Profile

(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.

See Also

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

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's FREE daily email newsletter.