Ferguson Wellman Capital Management Inc. Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Ferguson Wellman Capital Management Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 20.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 393,751 shares of the company’s stock after selling 98,180 shares during the period. AbbVie comprises 2.2% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 5th largest position. Ferguson Wellman Capital Management Inc.’s holdings in AbbVie were worth $60,307,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ABBV. Capital International Investors lifted its holdings in AbbVie by 162.6% during the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company’s stock worth $4,943,993,000 after buying an additional 18,882,699 shares during the last quarter. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $2,433,269,000. Vanguard Group Inc. raised its position 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 worth $24,400,600,000 after purchasing an additional 4,206,711 shares during the period. Arrowstreet Capital Limited Partnership raised its position 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 worth $754,155,000 after purchasing an additional 3,768,579 shares during the period. Finally, State Street Corp raised its position 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 worth $10,745,033,000 after purchasing an additional 2,597,076 shares during the period. Institutional investors own 68.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler dropped their price target on AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. Argus dropped their price target on AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, August 24th. Morgan Stanley lowered their target price on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. Atlantic Securities lowered their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Finally, UBS Group lowered their target price on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $159.35.

AbbVie Stock Performance

ABBV opened at $143.01 on Friday. The firm has a market cap of $252.86 billion, a PE ratio of 20.26, a P/E/G ratio of 3.98 and a beta of 0.72. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 4.15. The business has a fifty day simple moving average of $141.99 and a 200-day simple moving average of $149.56. AbbVie Inc. has a fifty-two week low of $106.44 and a fifty-two week high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last issued its earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.42 by $0.09. The business had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. AbbVie’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.11 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a $1.41 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 annualized dividend and a dividend yield of 3.94%. AbbVie’s dividend payout ratio (DPR) is presently 79.89%.

AbbVie Company 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.

Featured Stories

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.