AbbVie Inc. (NYSE:ABBV) Stock Holdings Raised by Atticus Wealth Management LLC

Atticus Wealth Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 12.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,223 shares of the company’s stock after buying an additional 560 shares during the period. Atticus Wealth Management LLC’s holdings in AbbVie were worth $800,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Intelligent Financial Strategies bought a new stake in shares of AbbVie during the 4th quarter valued at about $27,000. GoalVest Advisory LLC acquired a new position in AbbVie during the 1st quarter valued at about $33,000. Joseph P. Lucia & Associates LLC acquired a new position in AbbVie during the 1st quarter valued at about $34,000. Cordant Inc. acquired a new position in AbbVie during the 1st quarter valued at about $42,000. Finally, Monumental Financial Group Inc. acquired a new position in AbbVie during the 1st quarter valued at about $52,000. Institutional investors own 68.25% of the company’s stock.

AbbVie Stock Down 1.0 %

ABBV stock opened at $140.31 on Thursday. AbbVie Inc. has a 12 month low of $105.93 and a 12 month high of $175.91. The firm has a 50 day simple moving average of $142.13 and a 200 day simple moving average of $149.60. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.84 and a quick ratio of 0.75. The firm has a market cap of $248.08 billion, a PE ratio of 19.87, a P/E/G ratio of 4.00 and a beta of 0.72.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the previous year, the business earned $3.11 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 4.02%. AbbVie’s dividend payout ratio is currently 79.89%.

Analysts Set New Price Targets

A number of research firms have issued reports on ABBV. Argus reduced their target price on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, August 24th. Atlantic Securities reduced their target price on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, August 1st. Barclays reduced their price target on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Morgan Stanley reduced their price target on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a research note on Monday, August 1st. Finally, Piper Sandler reduced their price target on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $159.35.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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