Williams Jones Wealth Management LLC. lowered its stake in AbbVie Inc. (NYSE:ABBV – Get Rating) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,844 shares of the company’s stock after selling 2,522 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in AbbVie were worth $11,322,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sanders Morris Harris LLC increased its holdings in AbbVie by 0.3% during the 1st quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company’s stock valued at $3,755,000 after purchasing an additional 62 shares in the last quarter. ICW Investment Advisors LLC increased its holdings in AbbVie by 0.3% during the 1st quarter. ICW Investment Advisors LLC now owns 23,418 shares of the company’s stock valued at $3,796,000 after purchasing an additional 65 shares in the last quarter. Sax Wealth Advisors LLC increased its holdings in AbbVie by 0.9% during the 1st quarter. Sax Wealth Advisors LLC now owns 7,618 shares of the company’s stock valued at $1,235,000 after purchasing an additional 66 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its position in AbbVie by 0.4% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 17,615 shares of the company’s stock valued at $2,856,000 after buying an additional 67 shares during the last quarter. Finally, Lenox Wealth Advisors LLC boosted its position in AbbVie by 5.3% in the 1st quarter. Lenox Wealth Advisors LLC now owns 1,344 shares of the company’s stock valued at $235,000 after buying an additional 68 shares during the last quarter. 68.25% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ABBV has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. SVB Leerink initiated coverage on AbbVie in a research report on Monday, May 23rd. They issued an “underperform” rating and a $140.00 price objective on the stock. Piper Sandler decreased their price objective on AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. Atlantic Securities decreased their price objective on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Finally, UBS Group decreased their price objective on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $159.35.
AbbVie Stock Performance
AbbVie (NYSE:ABBV – Get Rating) last posted 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 firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.11 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.
AbbVie Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders 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 3.99%. The ex-dividend date is Thursday, October 13th. AbbVie’s dividend payout ratio is 79.89%.
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.
- Get a free copy of the StockNews.com research report on AbbVie (ABBV)
- MarketBeat: Week in Review 9/5 – 9/9
- Prepare For A Record-Setting Quarter For Cyber Security Stocks
- The Auto Market Is Slowly Recovering, These Stocks May Outperform
- Is DocuSign On The Verge Of A Major Reversal?
- Oil and Gas Stocks: A Safe Way to Invest in Renewable Energy
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.