One Day In July LLC Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

One Day In July LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 14.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,270 shares of the company’s stock after selling 371 shares during the period. One Day In July LLC’s holdings in AbbVie were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Norges Bank purchased a new position in shares of AbbVie in the 4th quarter worth $4,459,385,000. GAMMA Investing LLC grew its stake in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after buying an additional 10,195,284 shares in the last quarter. FMR LLC grew its stake in shares of AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after buying an additional 3,373,156 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after buying an additional 2,299,645 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Bank of America raised their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Finally, Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Stock Down 0.7%

Shares of AbbVie stock opened at $189.50 on Friday. The firm’s 50 day moving average price is $187.37 and its 200-day moving average price is $188.56. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The company has a market cap of $334.73 billion, a P/E ratio of 80.64, a PEG ratio of 1.26 and a beta of 0.48.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is presently 279.15%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet'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.