AbbVie Inc. (NYSE:ABBV) is Capital Market Strategies LLC’s 9th Largest Position

Capital Market Strategies LLC boosted its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,420 shares of the company’s stock after acquiring an additional 532 shares during the quarter. AbbVie comprises about 1.8% of Capital Market Strategies LLC’s holdings, making the stock its 9th largest holding. Capital Market Strategies LLC’s holdings in AbbVie were worth $1,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of AbbVie by 162.6% during the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company’s stock valued at $4,943,993,000 after buying an additional 18,882,699 shares during the last quarter. Norges Bank purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $2,433,269,000. Vanguard Group Inc. boosted its stake in shares of AbbVie by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after buying an additional 4,206,711 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of AbbVie by 426.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after buying an additional 3,768,579 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of AbbVie by 3.4% during the 4th quarter. State Street Corp now owns 79,357,705 shares of the company’s stock valued at $10,745,033,000 after buying an additional 2,597,076 shares during the last quarter. Hedge funds and other institutional investors own 68.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. SVB Leerink assumed coverage on AbbVie in a research report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price target on the stock. Barclays dropped their price target on AbbVie to $160.00 in a research report on Tuesday, August 9th. Piper Sandler dropped their price target on AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. Finally, Atlantic Securities dropped their price target on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $159.35.

AbbVie Price Performance

Shares of ABBV opened at $144.06 on Monday. The firm has a market capitalization of $254.71 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 4.04 and a beta of 0.72. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. AbbVie Inc. has a one year low of $105.56 and a one year high of $175.91. The stock’s fifty day moving average is $142.80 and its 200-day moving average is $149.78.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $3.11 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie’s dividend payout ratio (DPR) is 79.89%.

AbbVie Profile

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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