AbbVie Inc. (NYSE:ABBV) Shares Sold by LifeSteps Financial Inc.

LifeSteps Financial Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBVGet Rating) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,012 shares of the company’s stock after selling 579 shares during the period. AbbVie accounts for about 1.1% of LifeSteps Financial Inc.’s investment portfolio, making the stock its 20th largest position. LifeSteps Financial Inc.’s holdings in AbbVie were worth $1,074,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ABBV. Capital International Investors grew its stake in AbbVie by 162.6% in the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company’s stock valued at $4,943,993,000 after acquiring an additional 18,882,699 shares during the last quarter. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth about $2,433,269,000. Vanguard Group Inc. boosted its stake in shares of AbbVie by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock worth $24,400,600,000 after purchasing an additional 4,206,711 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of AbbVie by 426.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock worth $754,155,000 after purchasing an additional 3,768,579 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of AbbVie by 3.4% during the 4th quarter. State Street Corp now owns 79,357,705 shares of the company’s stock worth $10,745,033,000 after purchasing an additional 2,597,076 shares during the last quarter. 68.25% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 1.9 %

NYSE ABBV opened at $143.01 on Friday. AbbVie Inc. has a one year low of $106.44 and a one year high of $175.91. The company’s 50 day moving average price is $141.99 and its 200 day moving average price is $149.56. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. The firm has a market capitalization of $252.86 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 3.98 and a beta of 0.72.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the firm posted $3.11 earnings per share. AbbVie’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors 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 annualized dividend and a yield of 3.94%. AbbVie’s payout ratio is 79.89%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. Barclays decreased their price target on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Piper Sandler decreased their price target on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Argus decreased their price target on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. Atlantic Securities decreased their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Finally, Morgan Stanley decreased their target price on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $159.35.

AbbVie Profile

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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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