AbbVie Inc. $ABBV Stock Position Raised by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 26.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,252 shares of the company’s stock after acquiring an additional 2,967 shares during the quarter. Integrated Investment Consultants LLC’s holdings in AbbVie were worth $3,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter worth approximately $5,865,055,000. Wellington Management Group LLP grew its stake in AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after buying an additional 8,646,424 shares during the last quarter. Capital World Investors increased its position in AbbVie by 106.3% in the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock worth $2,986,777,000 after buying an additional 6,736,161 shares during the period. Cardano Risk Management B.V. increased its position in AbbVie by 914.6% in the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock worth $1,244,112,000 after buying an additional 4,908,260 shares during the period. Finally, Geode Capital Management LLC lifted its stake in AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after buying an additional 4,190,487 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

AbbVie Stock Performance

NYSE:ABBV opened at $216.63 on Friday. The stock has a market cap of $382.74 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 0.66 and a beta of 0.32. AbbVie Inc. has a 1 year low of $181.73 and a 1 year high of $244.81. The business has a fifty day moving average of $212.18 and a 200-day moving average of $218.76.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is 340.89%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABBV. William Blair reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Morgan Stanley lifted their price objective on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Evercore set a $235.00 target price on shares of AbbVie in a research note on Friday, May 15th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Finally, Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.43.

Get Our Latest Report on ABBV

About AbbVie

(Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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