AbbVie Inc. (NYSE:ABBV) Shares Sold by Addison Capital Co

Addison Capital Co reduced its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 5.5% in the 2nd quarter, Holdings Channel reports. The firm owned 7,699 shares of the company’s stock after selling 451 shares during the quarter. Addison Capital Co’s holdings in AbbVie were worth $1,179,000 as of its most recent SEC filing.

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

AbbVie Trading Up 1.1 %

Shares of NYSE:ABBV opened at $144.06 on Monday. The firm has a fifty day moving average of $142.80 and a two-hundred day moving average of $149.78. The firm has a market capitalization of $254.71 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 4.04 and a beta of 0.72. AbbVie Inc. has a 12-month low of $105.56 and a 12-month high of $175.91. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 4.15.

AbbVie (NYSE:ABBVGet Rating) last issued its earnings results on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the business posted $3.11 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABBV. Atlantic Securities lowered their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, August 1st. SVB Leerink assumed coverage on shares of AbbVie in a research report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price target on the stock. Argus reduced their price target on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, August 24th. Barclays cut their target price on shares of AbbVie to $160.00 in a report on Tuesday, August 9th. Finally, Morgan Stanley cut their price target on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.35.

About AbbVie

(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

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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