AbbVie Inc. (NYSE:ABBV) Shares Sold by Choreo LLC

Choreo LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,775 shares of the company’s stock after selling 2,176 shares during the quarter. Choreo LLC’s holdings in AbbVie were worth $4,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ABBV. Schonfeld Strategic Advisors LLC boosted its stake in AbbVie by 195.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock worth $729,000 after buying an additional 3,235 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of AbbVie during the 3rd quarter worth approximately $215,000. Ramirez Asset Management Inc. acquired a new stake in AbbVie in the 3rd quarter valued at approximately $684,000. First Foundation Advisors raised its position in AbbVie by 7.8% in the third quarter. First Foundation Advisors now owns 15,058 shares of the company’s stock valued at $2,245,000 after purchasing an additional 1,089 shares during the period. Finally, Harbour Investments Inc. boosted its position in shares of AbbVie by 26.5% during the third quarter. Harbour Investments Inc. now owns 18,569 shares of the company’s stock worth $2,768,000 after buying an additional 3,888 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Tuesday, July 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.07.

View Our Latest Analysis on AbbVie

AbbVie Price Performance

NYSE:ABBV traded down $0.46 during trading hours on Monday, reaching $166.79. 217,542 shares of the company traded hands, compared to its average volume of 5,618,094. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market cap of $294.53 billion, a P/E ratio of 49.56, a P/E/G ratio of 2.14 and a beta of 0.64. AbbVie Inc. has a 1-year low of $132.70 and a 1-year high of $182.89. The firm’s 50-day moving average is $164.58 and its 200-day moving average is $168.08.

AbbVie (NYSE:ABBVGet Free Report) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. Equities research analysts expect that AbbVie Inc. will post 10.71 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.72%. AbbVie’s dividend payout ratio is presently 183.98%.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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