D. Scott Neal Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 2,247.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,055 shares of the company’s stock after acquiring an additional 86,219 shares during the quarter. AbbVie comprises approximately 5.7% of D. Scott Neal Inc.’s portfolio, making the stock its 4th biggest holding. D. Scott Neal Inc.’s holdings in AbbVie were worth $13,793,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ABBV. Castle Financial & Retirement Planning Associates Inc. purchased a new position in shares of AbbVie in the fourth quarter valued at $25,000. Intelligent Financial Strategies purchased a new position in shares of AbbVie in the fourth quarter valued at $27,000. Psagot Value Holdings Ltd. Israel increased its position in shares of AbbVie by 311.3% in the fourth 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 purchased a new position in shares of AbbVie in the first quarter valued at $33,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of AbbVie in the first quarter valued at $34,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.
Analyst Upgrades and Downgrades
ABBV has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a research report on Monday, August 1st. SVB Leerink assumed coverage on AbbVie in a research note on Monday, May 23rd. They set an “underperform” rating and a $140.00 price objective on the stock. 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 note on Monday, August 1st. Piper Sandler decreased their price objective on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Finally, Barclays decreased their price objective on AbbVie to $160.00 in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.35.
AbbVie Stock Up 1.1 %
AbbVie (NYSE:ABBV – Get Rating) last released 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. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $3.11 EPS. On average, research analysts forecast that AbbVie Inc. will post 14.05 EPS for the current year.
AbbVie Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a $1.41 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.92%. AbbVie’s dividend payout ratio (DPR) 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.
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