Grandview Asset Management LLC Sells 863 Shares of AbbVie Inc. (NYSE:ABBV)

Grandview Asset Management LLC reduced its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,630 shares of the company’s stock after selling 863 shares during the period. AbbVie makes up about 2.4% of Grandview Asset Management LLC’s holdings, making the stock its 9th largest holding. Grandview Asset Management LLC’s holdings in AbbVie were worth $4,232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Capital International Investors raised its stake in AbbVie by 162.6% in the first 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. Norges Bank purchased a new position in shares of AbbVie during the fourth quarter worth about $2,433,269,000. Vanguard Group Inc. grew its holdings in shares of AbbVie by 2.9% during the first quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock worth $24,400,600,000 after purchasing an additional 4,206,711 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of AbbVie by 426.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock worth $754,155,000 after purchasing an additional 3,768,579 shares during the last quarter. Finally, State Street Corp grew its holdings 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 worth $10,745,033,000 after purchasing an additional 2,597,076 shares during the last quarter. 68.25% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock opened at $144.06 on Monday. The firm has a 50 day moving average of $142.80 and a 200-day moving average of $149.78. AbbVie Inc. has a 12-month low of $105.56 and a 12-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 has a market cap of $254.71 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 4.04 and a beta of 0.72.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly 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 the consensus estimate of $14.64 billion. During the same period last year, the firm earned $3.11 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group dropped their price objective on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Barclays dropped their price objective on AbbVie to $160.00 in a report on Tuesday, August 9th. Morgan Stanley lowered 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. Piper Sandler lowered their price target on AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Finally, Atlantic Securities lowered their price target on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.35.

AbbVie Company Profile

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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.

See Also

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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