AbbVie Inc. (NYSE:ABBV) Shares Sold by Rational Advisors Inc.

by · The Cerbat Gem

Rational Advisors Inc. reduced its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 41.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,847 shares of the company’s stock after selling 1,318 shares during the quarter. Rational Advisors Inc.’s holdings in AbbVie were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ABBV. Norges Bank acquired a new position in AbbVie during the 4th quarter worth about $4,459,385,000. GAMMA Investing LLC increased its stake in AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after purchasing an additional 10,195,284 shares during the period. FMR LLC lifted its position in shares of AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of AbbVie by 24.3% during the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after purchasing an additional 3,373,156 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock valued at $3,878,236,000 after purchasing an additional 2,299,645 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.4%

ABBV opened at $192.32 on Friday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The stock has a market capitalization of $339.71 billion, a P/E ratio of 81.84, a P/E/G ratio of 1.29 and a beta of 0.48. The business has a 50 day simple moving average of $187.01 and a 200-day simple moving average of $188.98.

AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is currently 279.15%.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Finally, BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.29.

Read Our Latest Stock Analysis on ABBV

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.

Further Reading

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