Congress Asset Management Co. MA lessened its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,739 shares of the company’s stock after selling 5,500 shares during the quarter. Congress Asset Management Co. MA’s holdings in AbbVie were worth $17,616,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $26,000. Able Wealth Management LLC purchased a new position in AbbVie during the 4th quarter valued at $33,000. IFS Advisors LLC bought a new position in shares of AbbVie in the first quarter worth about $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the 4th quarter worth about $37,000. Finally, Clarity Asset Management Inc. bought a new stake in AbbVie during the 4th quarter valued at $42,000. Institutional investors own 70.23% of the company’s stock.
AbbVie Stock Performance
NYSE ABBV opened at $170.39 on Friday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The stock’s fifty day moving average is $163.89 and its two-hundred day moving average is $166.79. The firm has a market capitalization of $300.89 billion, a P/E ratio of 50.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.
AbbVie Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.64%. AbbVie’s dividend payout ratio is presently 183.98%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on ABBV shares. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a 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 for the company in a research report on Monday, April 29th. Piper Sandler lifted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.64.
Check Out Our Latest Report on AbbVie
AbbVie Profile
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.
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