Mairs & Power Inc. Has $8.07 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Mairs & Power Inc. reduced its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 5.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 49,781 shares of the company’s stock after selling 2,613 shares during the period. Mairs & Power Inc.’s holdings in AbbVie were worth $8,070,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ABBV. Norges Bank acquired a new stake in AbbVie in the 4th quarter valued at about $2,433,269,000. Vanguard Group Inc. lifted its stake 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in AbbVie by 426.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after acquiring an additional 3,768,579 shares during the period. State Street Corp raised its holdings in AbbVie by 3.4% in the 4th 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 during the period. Finally, Capital International Investors raised its holdings in AbbVie by 19.7% in the 4th quarter. Capital International Investors now owns 11,615,068 shares of the company’s stock valued at $1,572,680,000 after acquiring an additional 1,913,451 shares during the period. 68.25% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock opened at $141.42 on Friday. The firm has a market cap of $250.04 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 3.94 and a beta of 0.72. 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 Inc. has a 12-month low of $105.56 and a 12-month high of $175.91. The company’s fifty day simple moving average is $143.96 and its 200 day simple moving average is $150.01.

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

AbbVie Announces Dividend

The business 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 yield of 3.99%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie’s dividend payout ratio (DPR) is currently 79.89%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABBV. Atlantic Securities lowered their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Argus lowered their target price on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. UBS Group lowered their target price on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. SVB Leerink assumed coverage on shares of AbbVie in a report on Monday, May 23rd. They set an “underperform” rating and a $140.00 target price on the stock. Finally, Barclays lowered their target price on shares of AbbVie to $160.00 in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.35.

AbbVie 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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