Tobam Has $31.93 Million Stake in AbbVie Inc. (NYSE:ABBV)

Tobam reduced its stake in AbbVie Inc. (NYSE:ABBVFree Report) by 19.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 175,361 shares of the company’s stock after selling 43,386 shares during the quarter. AbbVie accounts for approximately 2.9% of Tobam’s portfolio, making the stock its 3rd largest holding. Tobam’s holdings in AbbVie were worth $31,933,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of AbbVie in the fourth quarter worth about $3,229,888,000. International Assets Investment Management LLC purchased a new position in AbbVie in the 4th quarter valued at approximately $499,955,000. Capital International Investors raised its holdings in AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after acquiring an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after acquiring an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV traded down $1.33 during mid-day trading on Monday, reaching $165.92. The stock had a trading volume of 135,969 shares, compared to its average volume of 5,616,938. The company has a market cap of $292.99 billion, a P/E ratio of 49.56, a price-to-earnings-growth ratio of 2.14 and a beta of 0.64. The business’s 50 day moving average price is $164.58 and its 200 day moving average price is $168.08. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 1 year low of $132.70 and a 1 year high of $182.89.

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

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.74%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent analyst reports. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Wednesday, June 5th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. Finally, Piper Sandler reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $181.07.

View Our Latest Stock Analysis on ABBV

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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