Atticus Wealth Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get 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 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.
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.
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