AbbVie Inc. (NYSE:ABBV) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,173 shares of the company’s stock after selling 780 shares during the period. Gold Investment Management Ltd.’s holdings in AbbVie were worth $2,217,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new position in AbbVie in the fourth quarter worth approximately $3,229,888,000. International Assets Investment Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $499,955,000. Capital International Investors raised its position in shares of AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after buying an additional 2,542,463 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in AbbVie by 39.6% in the fourth 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. raised its position in AbbVie by 7.5% in the fourth 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 currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.1 %

Shares of NYSE ABBV traded up $0.09 during mid-day trading on Wednesday, hitting $168.14. The stock had a trading volume of 3,837,226 shares, compared to its average volume of 5,619,299. 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 Inc. has a 1 year low of $132.70 and a 1 year high of $182.89. The business has a 50 day moving average price of $164.92 and a two-hundred day moving average price of $168.27. The firm has a market cap of $296.91 billion, a P/E ratio of 49.89, a price-to-earnings-growth ratio of 2.26 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the firm earned $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 10.61 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Tuesday, July 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $181.07.

AbbVie Profile

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.