Embree Financial Group Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Embree Financial Group decreased its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,196 shares of the company’s stock after selling 75 shares during the quarter. AbbVie makes up approximately 0.7% of Embree Financial Group’s holdings, making the stock its 28th largest holding. Embree Financial Group’s holdings in AbbVie were worth $3,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Norges Bank purchased a new stake in shares of AbbVie during the 4th quarter worth about $3,229,888,000. International Assets Investment Management LLC purchased a new stake in shares of AbbVie during the 4th quarter worth about $499,955,000. Capital International Investors grew its holdings in shares of AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after purchasing an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA lifted its position in AbbVie by 39.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after acquiring an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ABBV. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Piper Sandler reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Tuesday, July 2nd. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $181.07.

Get Our Latest Stock Report on AbbVie

AbbVie Stock Performance

ABBV traded up $0.09 during trading on Wednesday, reaching $168.14. 3,837,226 shares of the company were exchanged, compared to its average volume of 5,619,299. The stock has a market cap of $296.91 billion, a P/E ratio of 49.89, a PEG ratio of 2.26 and a beta of 0.64. The firm has a 50 day moving average of $164.92 and a 200 day moving average of $168.27. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 52 week low of $132.70 and a 52 week high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the prior year, the business earned $2.46 EPS. The firm’s revenue was up .7% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 10.61 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.69%. AbbVie’s payout ratio is 183.98%.

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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