Insight Folios Inc Has $7.22 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Insight Folios Inc reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 17.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,620 shares of the company’s stock after selling 8,661 shares during the period. AbbVie accounts for 2.9% of Insight Folios Inc’s portfolio, making the stock its 6th biggest holding. Insight Folios Inc’s holdings in AbbVie were worth $7,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ABBV. Norges Bank purchased a new position in AbbVie in the 4th quarter worth approximately $3,229,888,000. International Assets Investment Management LLC purchased a new position in AbbVie in the 4th quarter worth approximately $499,955,000. Capital International Investors lifted its holdings in AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after purchasing an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in AbbVie by 39.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after purchasing an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after purchasing an additional 1,702,415 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABBV. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Tuesday. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $181.07.

AbbVie Stock Performance

NYSE ABBV opened at $163.84 on Friday. The company has a market cap of $289.32 billion, a P/E ratio of 48.62, a P/E/G ratio of 2.10 and a beta of 0.64. 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 business’s 50 day moving average price is $164.43 and its 200-day moving average price is $167.77. AbbVie Inc. has a fifty-two week low of $132.70 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. Sell-side analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed 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. This represents a $6.20 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 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.