Leavell Investment Management Inc. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,978 shares of the company’s stock after selling 134 shares during the quarter. Leavell Investment Management Inc.’s holdings in AbbVie were worth $6,042,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Integrated Investment Consultants LLC boosted its position in AbbVie by 1.1% during the second quarter. Integrated Investment Consultants LLC now owns 9,834 shares of the company’s stock worth $966,000 after purchasing an additional 109 shares in the last quarter. Old North State Trust LLC boosted its position in AbbVie by 1.6% during the second quarter. Old North State Trust LLC now owns 7,033 shares of the company’s stock worth $690,000 after purchasing an additional 110 shares in the last quarter. Quad Cities Investment Group LLC boosted its position in AbbVie by 2.9% during the second quarter. Quad Cities Investment Group LLC now owns 4,181 shares of the company’s stock worth $411,000 after purchasing an additional 117 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its holdings in shares of AbbVie by 1.0% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 11,889 shares of the company’s stock worth $1,167,000 after acquiring an additional 117 shares during the last quarter. Finally, Inlet Private Wealth LLC raised its holdings in shares of AbbVie by 0.5% in the second quarter. Inlet Private Wealth LLC now owns 24,876 shares of the company’s stock worth $2,442,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 68.23% of the company’s stock.
Shares of NYSE:ABBV opened at $80.49 on Thursday. The firm has a market capitalization of $142.05 billion, a PE ratio of 17.13, a P/E/G ratio of 1.40 and a beta of 0.74. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.86 and a quick ratio of 0.70. The business has a 50-day moving average of $87.26 and a two-hundred day moving average of $91.04. AbbVie Inc. has a 12 month low of $62.55 and a 12 month high of $101.28.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.14. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The company had revenue of $10.43 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The company’s revenue was up 26.3% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 10.42 earnings per share for the current year.
The business also recently announced 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 5.86%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s payout ratio is 52.80%.
A number of equities analysts have recently weighed in on ABBV shares. Royal Bank of Canada boosted their price target on AbbVie from $125.00 to $127.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. The Goldman Sachs Group cut AbbVie from a “neutral” rating to a “sell” rating in a report on Tuesday, October 20th. Citigroup boosted their price target on AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Morgan Stanley boosted their price target on AbbVie from $95.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Finally, Berenberg Bank initiated coverage on AbbVie in a research note on Tuesday, September 29th. They issued a “hold” rating and a $98.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. AbbVie has a consensus rating of “Buy” and an average target price of $108.71.
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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