SBI Securities Co. Ltd. Reduces Stake in AbbVie Inc. (NYSE:ABBV)

SBI Securities Co. Ltd. reduced its stake in AbbVie Inc. (NYSE:ABBV) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,001 shares of the company’s stock after selling 69 shares during the quarter. SBI Securities Co. Ltd.’s holdings in AbbVie were worth $13,200,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ABBV. Abound Financial LLC purchased a new position in shares of AbbVie during the 1st quarter worth $30,000. EnRich Financial Partners LLC boosted its holdings in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Prudent Man Investment Management Inc. purchased a new position in AbbVie during the 4th quarter valued at about $32,000. Pinney & Scofield Inc. purchased a new position in AbbVie during the 4th quarter valued at about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in AbbVie during the 1st quarter valued at about $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.4%

ABBV opened at $192.32 on Monday. The business’s 50 day moving average is $187.01 and its two-hundred day moving average is $189.11. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The firm has a market cap of $339.71 billion, a price-to-earnings ratio of 81.84, a price-to-earnings-growth ratio of 1.28 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the business posted $2.31 EPS. The company’s revenue was up 8.4% on a year-over-year basis. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.41%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. BNP Paribas raised AbbVie to a “hold” rating in a research report on Thursday, May 8th. Bank of America increased their price target on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

About AbbVie

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.