STAR Financial Bank Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

STAR Financial Bank reduced its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,370 shares of the company’s stock after selling 306 shares during the period. AbbVie accounts for about 1.5% of STAR Financial Bank’s investment portfolio, making the stock its 15th largest position. STAR Financial Bank’s holdings in AbbVie were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

AbbVie Stock Up 0.1 %

NYSE ABBV traded up $0.09 during mid-day trading on Wednesday, reaching $168.14. 3,837,226 shares of the company’s stock traded hands, compared to its average volume of 5,619,299. The company has a fifty day simple moving average of $164.92 and a 200-day simple moving average of $168.27. AbbVie Inc. has a 1-year low of $132.70 and a 1-year high of $182.89. The company has a market cap of $296.91 billion, a price-to-earnings ratio of 49.89, a P/E/G ratio of 2.26 and a beta of 0.64. 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 (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 10.61 EPS for the current year.

AbbVie Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on ABBV. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Tuesday. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $181.07.

View Our Latest Stock Analysis on AbbVie

About AbbVie

(Free Report)

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

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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