Intrua Financial LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,726 shares of the company’s stock after purchasing an additional 463 shares during the period. Intrua Financial LLC’s holdings in AbbVie were worth $3,847,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in ABBV. Nuveen LLC acquired a new position in shares of AbbVie during the first quarter worth $1,819,154,000. Assenagon Asset Management S.A. increased its holdings in AbbVie by 550.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after purchasing an additional 3,666,521 shares during the period. Goldman Sachs Group Inc. increased its holdings in AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in AbbVie during the 2nd quarter worth $581,817,000. Finally, Invesco Ltd. lifted its holdings in AbbVie by 17.5% during the 1st quarter. Invesco Ltd. now owns 8,367,049 shares of the company’s stock worth $1,753,064,000 after buying an additional 1,246,863 shares during the period. Institutional investors own 70.23% of the company’s stock.
AbbVie Stock Performance
Shares of ABBV stock opened at $232.25 on Friday. The firm has a 50 day moving average of $224.49 and a 200-day moving average of $203.63. The company has a market cap of $410.47 billion, a price-to-earnings ratio of 110.60, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.
AbbVie Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 16th will be paid a $1.73 dividend. The ex-dividend date is Friday, January 16th. This represents a $6.92 annualized dividend and a dividend yield of 3.0%. This is a boost from AbbVie’s previous quarterly dividend of $1.64. AbbVie’s dividend payout ratio (DPR) is 524.24%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on ABBV shares. UBS Group increased their price target on AbbVie from $195.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. upped their target price on AbbVie from $250.00 to $260.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Scotiabank assumed coverage on shares of AbbVie in a report on Thursday. They set a “sector outperform” rating and a $280.00 price target for the company. DZ Bank downgraded shares of AbbVie from a “buy” rating to a “hold” rating and set a $237.00 price target on the stock. in a research report on Tuesday, November 4th. Finally, Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.55.
Read Our Latest Analysis on ABBV
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet'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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