waypoint wealth counsel Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

waypoint wealth counsel lessened its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 11.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,952 shares of the company’s stock after selling 393 shares during the period. waypoint wealth counsel’s holdings in AbbVie were worth $618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Crestline Management LP lifted its position in AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after buying an additional 28,753 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after acquiring an additional 108,993 shares during the period. Quantbot Technologies LP lifted its holdings in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after acquiring an additional 276 shares during the period. AXA S.A. lifted its holdings in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after acquiring an additional 125,568 shares during the period. Finally, Weaver Capital Management LLC raised its stake in AbbVie by 3.9% during the first quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock worth $1,727,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $185.53 on Wednesday. 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 Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock’s 50 day moving average is $185.46 and its two-hundred day moving average is $187.82. The company has a market capitalization of $327.73 billion, a PE ratio of 78.95, a P/E/G ratio of 1.22 and a beta of 0.50.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 earnings per share. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is currently 279.15%.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Morgan Stanley raised their price objective on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Finally, BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

View Our Latest Research Report on AbbVie

AbbVie Company Profile

(Free Report)

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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