Artemis Investment Management LLP lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 80.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,988 shares of the company's stock after selling 267,300 shares during the quarter. Artemis Investment Management LLP's holdings in AbbVie were worth $13,031,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in ABBV. Vanguard Group Inc. boosted its position in shares of AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company's stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. Capital World Investors boosted its holdings in AbbVie by 249.1% in the first quarter. Capital World Investors now owns 4,373,184 shares of the company's stock valued at $796,357,000 after purchasing an additional 3,120,310 shares in the last quarter. Capital International Investors increased its stake in AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company's stock valued at $8,758,789,000 after purchasing an additional 3,110,601 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of AbbVie by 156.0% in the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company's stock valued at $632,619,000 after buying an additional 2,116,997 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of AbbVie in the 1st quarter valued at $367,372,000. Institutional investors and hedge funds own 70.23% of the company's stock.
Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. UBS Group upped their target price on AbbVie from $185.00 to $195.00 and gave the company a "neutral" rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Morgan Stanley boosted their price objective on AbbVie from $211.00 to $218.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. Finally, BMO Capital Markets raised their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $197.67.
Read Our Latest Stock Analysis on ABBV
In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company's stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company's stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm's stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares of the company's stock, valued at $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
ABBV stock opened at $194.67 on Thursday. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a fifty day moving average of $193.70 and a 200-day moving average of $177.05. The stock has a market capitalization of $343.76 billion, a PE ratio of 57.77, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.91 EPS. As a group, analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.18%. The ex-dividend date is Tuesday, October 15th. AbbVie's payout ratio is 183.98%.
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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