The shares were sold to AbbVie Inc. (NYSE:ABBV) by ProShare Advisors LLC
A number of institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Goepper Burkhardt LLC raised its position in shares of AbbVie by 1.9% during the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after purchasing an additional 67 shares during the period. Sand Hill Global Advisors LLC raised its position in shares of AbbVie by 0.4% during the first quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after purchasing an additional 68 shares during the period. Kistler Tiffany Companies LLC raised its position in shares of AbbVie by 0.6% during the first quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock valued at $1,963,000 after purchasing an additional 70 shares during the period. Sonen Capital LLC increased its position in shares of AbbVie by 4.8% during the first quarter. Sonen Capital LLC now owns 1,537 shares of the company’s stock worth $245,000 after purchasing an additional 70 shares during the period. Finally, Meridian Wealth Partners LLC raised its position in AbbVie by 1.6% in the first quarter. Meridian Wealth Partners LLC now owns 4,526 shares of the company’s stock valued at $721,000 after purchasing an additional 71 shares during the last quarter. 67.86% of the stock is owned by institutional investors and hedge funds.
AbbVie trading rose 0.0%
AbbVie shares rose $0.02 during trading on Friday, reaching $138.30. 4,332,349 shares of the company’s shares were traded, compared to an average trading volume of 5,528,588 shares. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 4.59. At AbbVie Inc. The twelve month low is at $130.96 and the twelve month high is $168.11. The company has a 50 day moving average price of $146.58 and a 200 day moving average price of $143.98. The company has a market cap of $244.17 billion, a P/E ratio of 37.89, a P/E ratio of 2.45 and a beta of 0.51.
AbbVie (NYSE:ABBV – Get a Free Report) posted its earnings results on Friday, October 27th. The company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.09. AbbVie had a return on equity of 152.70% and a net margin of 11.81%. The company achieved revenues of $13.93 billion during the quarter, compared to analysts’ expectations of $13.72 billion. During the same period of the previous year, the company achieved earnings of $3.66 per share. The company’s revenue decreased by 6.0% year over year. Sell-side analysts expect AbbVie Inc. It will post 11.24 earnings per share for the current fiscal year.
AbbVie increases its profits
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record will be paid a dividend of $1.55 on Tuesday, January 16th. This represents a dividend of $6.20 on an annual basis and a yield of 4.48%. This is a boost from AbbVie’s previous quarterly earnings of $1.48. The ex-dividend date is Friday, January 12th. AbbVie’s payout ratio currently stands at 169.86%.
Analyst ratings changes
ABBV has been the subject of numerous research analyst reports. Raymond James began coverage of AbbVie in a research report on Thursday, September 28th. They issued an “outperform” rating and a $177.00 price target for the company. TheStreet upgraded AbbVie from a “c+” rating to a “b” rating in a research report issued on Monday, August 28th. Piper Sandler Companies raised their price target on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Piper Sandler raised their target price on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Finally, UBS Group cut their price target on AbbVie from $157.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has a “Moderate Buy” consensus rating and a consensus target price of $167.69.
View our latest stock report for ABBV
AbbVie Inc. discovers, develops, manufactures and sells medicines worldwide. The company offers Humira, an injectable treatment for autoimmune diseases, Behcet’s disease, and pyoderma gangrenosum; Skyrizi is used to treat moderate to severe psoriasis, psoriasis, and Crohn’s disease. Rinvoq, a JAK inhibitor for the treatment of rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica is used to treat adult patients with leukemia. and Venclexta/Venclyxto for the treatment of hematological malignancies.
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(tags for translation) AbbVie