Bennicas & Associates Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,058 shares of the company’s stock after selling 217 shares during the period. AbbVie comprises 2.4% of Bennicas & Associates Inc.’s portfolio, making the stock its 8th largest holding. Bennicas & Associates Inc.’s holdings in AbbVie were worth $3,859,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in ABBV. BlackRock Inc. boosted its holdings in AbbVie by 21.7% during the second quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock worth $12,111,133,000 after buying an additional 21,974,440 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 17.3% in the second quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock valued at $14,470,438,000 after purchasing an additional 21,786,239 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of AbbVie by 46.4% in the second quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock valued at $2,172,182,000 after purchasing an additional 7,007,887 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of AbbVie by 148.1% in the second quarter. Nordea Investment Management AB now owns 5,964,626 shares of the company’s stock valued at $573,976,000 after purchasing an additional 3,560,895 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AbbVie by 15.0% in the second quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock valued at $2,099,832,000 after purchasing an additional 2,797,448 shares in the last quarter. 68.23% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on ABBV shares. JPMorgan Chase & Co. upped their price target on shares of AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Friday. Berenberg Bank started coverage on shares of AbbVie in a report on Tuesday, September 29th. They issued a “hold” rating and a $98.00 price target on the stock. Royal Bank of Canada upped their price target on shares of AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Atlantic Securities raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 price target on the stock in a report on Tuesday, June 23rd. Finally, Morgan Stanley upped their price objective on shares of AbbVie from $95.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $108.63.
Shares of ABBV stock opened at $86.27 on Friday. AbbVie Inc. has a one year low of $62.55 and a one year high of $101.28. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.70 and a current ratio of 0.86. The company has a 50 day moving average price of $89.38 and a 200 day moving average price of $90.44. The firm has a market capitalization of $152.25 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.14. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The company had revenue of $10.43 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 10.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given a $1.18 dividend. This represents a $4.72 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s payout ratio is currently 52.80%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et'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), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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