Woodstock Corp Trims Holdings in AbbVie Inc. (NYSE:ABBV)

Woodstock Corp decreased its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,151 shares of the company’s stock after selling 152 shares during the quarter. AbbVie comprises approximately 2.2% of Woodstock Corp’s investment portfolio, making the stock its 10th biggest holding. Woodstock Corp’s holdings in AbbVie were worth $16,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors lifted 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 bought a new position in AbbVie in the fourth quarter valued at approximately $2,433,269,000. Vanguard Group Inc. lifted its stake in AbbVie by 2.9% in the first quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after buying an additional 4,206,711 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in AbbVie by 426.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after buying an additional 3,768,579 shares in the last quarter. Finally, State Street Corp lifted its stake in AbbVie by 3.4% in the fourth quarter. State Street Corp now owns 79,357,705 shares of the company’s stock valued at $10,745,033,000 after buying an additional 2,597,076 shares in the last quarter. Institutional investors own 68.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $144.06 on Monday. 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’s fifty day simple moving average is $142.80 and its 200 day simple moving average is $149.78. AbbVie Inc. has a 1-year low of $105.56 and a 1-year high of $175.91. 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 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. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same period in the previous year, the business posted $3.11 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.92%. AbbVie’s dividend payout ratio (DPR) is 79.89%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ABBV shares. Piper Sandler cut their price target on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Morgan Stanley lowered their price objective on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a report on Monday, August 1st. Barclays lowered their price objective on shares of AbbVie to $160.00 in a report on Tuesday, August 9th. Argus lowered their price objective 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. Finally, Atlantic Securities lowered their price objective 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. One research analyst has rated the stock with a sell rating, six have issued 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, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $159.35.

About AbbVie

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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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