Goelzer Investment Management Inc. Sells 853 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Goelzer Investment Management Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 50,759 shares of the company’s stock after selling 853 shares during the period. AbbVie makes up 0.6% of Goelzer Investment Management Inc.’s portfolio, making the stock its 27th largest holding. Goelzer Investment Management Inc.’s holdings in AbbVie were worth $10,635,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ABBV. Crestline Management LP boosted its position in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after acquiring an additional 28,753 shares during the period. Dimensional Fund Advisors LP raised its stake in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP boosted its holdings in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after purchasing an additional 276 shares during the period. AXA S.A. grew its position in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after purchasing an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC increased its holdings in shares of AbbVie by 6.3% during the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock worth $9,817,000 after purchasing an additional 2,792 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 0.7%

NYSE:ABBV opened at $189.50 on Friday. AbbVie Inc. has a 52 week low of $163.63 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm’s fifty day moving average is $187.30 and its 200-day moving average is $188.36. The firm has a market cap of $334.73 billion, a P/E ratio of 80.64, a P/E/G ratio of 1.27 and a beta of 0.48.

AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the company posted $2.31 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.46%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 279.15%.

Analyst Ratings Changes

Several research firms have recently issued reports on ABBV. Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Bank of America upped their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $211.29.

View Our Latest Stock Report 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.

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