Lee Financial Co lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,963 shares of the company’s stock after selling 1,295 shares during the period. Lee Financial Co’s holdings in AbbVie were worth $1,881,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Kalos Management Inc. acquired a new position in AbbVie during the 1st quarter valued at about $26,000. Miller Wealth Advisors LLC grew its holdings in AbbVie by 140.0% in the 2nd quarter. Miller Wealth Advisors LLC now owns 240 shares of the company’s stock worth $32,000 after buying an additional 140 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in AbbVie in the 1st quarter valued at approximately $37,000. Sanctuary Wealth Management L.L.C. bought a new stake in AbbVie during the 2nd quarter valued at $39,000. Finally, True Wealth Design LLC acquired a new position in AbbVie during the 4th quarter worth $39,000. Institutional investors and hedge funds own 67.86% of the company’s stock.
AbbVie Stock Down 2.9 %
Shares of AbbVie stock traded down $4.10 during trading on Thursday, hitting $137.93. 2,221,705 shares of the stock traded hands, compared to its average volume of 5,484,149. The company has a debt-to-equity ratio of 4.59, a quick ratio of 0.77 and a current ratio of 0.96. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $168.11. The company has a fifty day moving average price of $147.89 and a two-hundred day moving average price of $144.88. The stock has a market cap of $243.45 billion, a P/E ratio of 38.92, a PEG ratio of 2.53 and a beta of 0.51.
AbbVie (NYSE:ABBV – Get Free Report) last posted its earnings results on Friday, October 27th. The company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.09. AbbVie had a return on equity of 152.70% and a net margin of 11.81%. The firm had revenue of $13.93 billion during the quarter, compared to analyst estimates of $13.72 billion. During the same period in the previous year, the company earned $3.66 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 11.24 EPS for the current fiscal year.
AbbVie Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a $1.55 dividend. The ex-dividend date is Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.50%. This is a positive change from AbbVie’s previous quarterly dividend of $1.48. AbbVie’s dividend payout ratio (DPR) is 162.19%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Piper Sandler Companies raised their price objective on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Credit Suisse Group dropped their price objective on AbbVie from $170.00 to $160.00 in a research note on Wednesday, July 12th. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. Piper Sandler upped their price target on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Finally, William Blair began coverage on shares of AbbVie in a research note on Tuesday, July 25th. They issued a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $167.69.
View Our Latest Stock Report on ABBV
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet’s diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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