Dash Acquisitions Inc. Reduces Position in AbbVie Inc. (NYSE:ABBV)

Dash Acquisitions Inc. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,879 shares of the company’s stock after selling 971 shares during the period. Dash Acquisitions Inc.’s holdings in AbbVie were worth $524,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC increased its stake in shares of AbbVie by 195.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock worth $729,000 after acquiring an additional 3,235 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of AbbVie by 95.1% during the third quarter. Lazard Asset Management LLC now owns 195,048 shares of the company’s stock valued at $29,073,000 after purchasing an additional 95,057 shares during the last quarter. First National Bank of Omaha boosted its position in shares of AbbVie by 7.9% in the 3rd quarter. First National Bank of Omaha now owns 8,460 shares of the company’s stock worth $1,261,000 after purchasing an additional 620 shares in the last quarter. Ameriprise Financial Inc. increased its position in AbbVie by 1.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,066,082 shares of the company’s stock valued at $2,098,436,000 after buying an additional 199,833 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in AbbVie by 32.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,014,817 shares of the company’s stock valued at $300,329,000 after buying an additional 498,978 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Piper Sandler reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $181.07.

AbbVie Trading Down 2.6 %

Shares of NYSE:ABBV opened at $165.97 on Wednesday. The stock’s 50-day simple moving average is $164.65 and its two-hundred day simple moving average is $167.74. The stock has a market capitalization of $293.08 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a 52-week low of $132.70 and a 52-week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the firm posted $2.46 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders 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 annualized dividend and a dividend yield of 3.74%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

About AbbVie

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.