AbbVie Inc. (NYSE:ABBV) is Capital Market Strategies LLC’s 9th Largest Position

Capital Market Strategies LLC increased its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,420 shares of the company’s stock after purchasing an additional 532 shares during the period. AbbVie makes up 1.8% of Capital Market Strategies LLC’s portfolio, making the stock its 9th largest holding. Capital Market Strategies LLC’s holdings in AbbVie were worth $1,749,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABBV. Vanguard Group Inc. lifted its holdings in AbbVie by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after buying an additional 4,206,711 shares in the last quarter. BlackRock Inc. lifted its holdings in AbbVie by 1.1% during the 1st quarter. BlackRock Inc. now owns 129,630,878 shares of the company’s stock valued at $21,014,462,000 after buying an additional 1,433,324 shares in the last quarter. State Street Corp lifted its holdings in AbbVie by 3.4% during the 4th quarter. State Street Corp now owns 79,357,705 shares of the company’s stock valued at $10,745,033,000 after buying an additional 2,597,076 shares in the last quarter. Capital International Investors lifted its holdings in AbbVie by 162.6% during the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company’s stock valued at $4,943,993,000 after buying an additional 18,882,699 shares in the last quarter. Finally, Norges Bank bought a new stake in AbbVie during the 4th quarter valued at about $2,433,269,000. 68.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. SVB Leerink assumed coverage on shares of AbbVie in a report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price objective for the company. UBS Group reduced their price target on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a report on Monday, August 1st. Morgan Stanley reduced their price target on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Monday, August 1st. Atlantic Securities reduced their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, August 1st. Finally, Piper Sandler reduced their price target on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $159.35.

AbbVie Stock Up 1.1 %

NYSE:ABBV opened at $144.06 on Monday. The company has a market cap of $254.71 billion, a PE ratio of 20.41, a P/E/G ratio of 4.04 and a beta of 0.72. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. The company’s 50 day moving average is $142.80 and its two-hundred day moving average is $149.78.

AbbVie (NYSE:ABBVGet Rating) last released its earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.09. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. AbbVie’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.11 EPS. Analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 3.92%. The ex-dividend date is Thursday, October 13th. AbbVie’s dividend payout ratio is presently 79.89%.

AbbVie Company Profile

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet'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), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading

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

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 MarketBeat.com's FREE daily email newsletter.