Gateway Investment Advisers LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Gateway Investment Advisers LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 546,138 shares of the company’s stock after acquiring an additional 21,345 shares during the quarter. AbbVie comprises approximately 0.9% of Gateway Investment Advisers LLC’s holdings, making the stock its 21st biggest holding. Gateway Investment Advisers LLC’s holdings in AbbVie were worth $83,647,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thrive Wealth Management LLC lifted its holdings in AbbVie by 10.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 3,391 shares of the company’s stock worth $519,000 after buying an additional 318 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of AbbVie by 2.5% in the 2nd quarter. Sound Income Strategies LLC now owns 84,866 shares of the company’s stock valued at $12,998,000 after purchasing an additional 2,058 shares in the last quarter. Minot Wealth Management LLC raised its stake in shares of AbbVie by 1.2% in the 1st quarter. Minot Wealth Management LLC now owns 66,161 shares of the company’s stock valued at $10,725,000 after purchasing an additional 800 shares in the last quarter. Eudaimonia Partners LLC bought a new stake in shares of AbbVie during the 1st quarter valued at about $4,231,000. Finally, Oldfather Financial Services LLC bought a new stake in shares of AbbVie during the 4th quarter valued at about $250,000. Institutional investors and hedge funds own 68.25% of the company’s stock.

AbbVie Trading Down 1.0 %

ABBV opened at $140.31 on Thursday. 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 stock has a market capitalization of $248.08 billion, a PE ratio of 19.87, a PEG ratio of 4.00 and a beta of 0.72. AbbVie Inc. has a 1-year low of $105.93 and a 1-year high of $175.91. The firm has a 50-day moving average price of $142.13 and a two-hundred day moving average price of $149.60.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.42 by $0.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.11 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie’s dividend payout ratio is 79.89%.

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. Argus decreased their target price on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, August 24th. Piper Sandler cut their target price on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. UBS Group cut their target price on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a research note on Monday, August 1st. Barclays reduced their price target on shares of AbbVie to $160.00 in a research report on Tuesday, August 9th. Finally, Atlantic Securities reduced their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, six have given 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 target price of $159.35.

AbbVie Company Profile

(Get Rating)

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.

Read More

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.