AbbVie Inc. (NYSE:ABBV) Shares Bought by Invesco Ltd.

Invesco Ltd. boosted its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 5.0% in the 1st quarter, HoldingsChannel reports. The fund owned 6,166,702 shares of the company’s stock after acquiring an additional 294,978 shares during the period. Invesco Ltd.’s holdings in AbbVie were worth $999,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Castle Financial & Retirement Planning Associates Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $25,000. Intelligent Financial Strategies acquired a new position in shares of AbbVie in the 4th quarter valued at $27,000. Psagot Value Holdings Ltd. Israel boosted its holdings in shares of AbbVie by 311.3% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after buying an additional 3,300 shares in the last quarter. GoalVest Advisory LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $33,000. Finally, Joseph P. Lucia & Associates LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 68.25% of the company’s stock.

AbbVie Stock Up 0.6 %

Shares of AbbVie stock opened at $141.42 on Friday. The company has a market cap of $250.04 billion, a P/E ratio of 20.03, a PEG ratio of 3.89 and a beta of 0.72. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. AbbVie Inc. has a one year low of $105.56 and a one year high of $175.91. The firm has a fifty day moving average of $143.96 and a two-hundred day moving average of $149.99.

AbbVie (NYSE:ABBVGet Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping 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 quarter in the prior year, the firm earned $3.11 EPS. AbbVie’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.99%. AbbVie’s dividend payout ratio (DPR) is presently 79.89%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. SVB Leerink assumed coverage on shares of AbbVie in a report on Monday, May 23rd. They issued an “underperform” rating and a $140.00 target price for the company. Piper Sandler lowered their target price on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Atlantic Securities lowered their target price 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. 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 research report on Monday, August 1st. Finally, Argus reduced their price target on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $159.35.

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

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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