AbbVie Inc. (NYSE:ABBV) Stake Reduced by P.A.W. Capital Corp

P.A.W. Capital Corp trimmed its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 8.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,500 shares of the company’s stock after selling 500 shares during the quarter. P.A.W. Capital Corp’s holdings in AbbVie were worth $842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ABBV. Intelligent Financial Strategies bought a new stake in shares of AbbVie during the 4th quarter worth $27,000. GoalVest Advisory LLC acquired a new stake in AbbVie in the 1st quarter valued at about $33,000. Joseph P. Lucia & Associates LLC bought a new position in shares of AbbVie in the 1st quarter valued at about $34,000. Cordant Inc. bought a new position in AbbVie during the 1st quarter worth approximately $42,000. Finally, Monumental Financial Group Inc. bought a new position in AbbVie during the 1st quarter worth approximately $52,000. Institutional investors and hedge funds own 68.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ABBV. Morgan Stanley reduced their price objective on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a research report on Monday, August 1st. UBS Group cut their price target on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Atlantic Securities lowered their price target on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, August 1st. Piper Sandler decreased their price objective on AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Finally, Barclays cut their target price on AbbVie to $160.00 in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.35.

AbbVie Trading Down 1.0 %

Shares of AbbVie stock opened at $140.31 on Thursday. AbbVie Inc. has a 12-month low of $105.93 and a 12-month high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. The stock has a market cap of $248.08 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 4.00 and a beta of 0.72. The company has a 50-day moving average of $142.13 and a two-hundred day moving average of $149.60.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 22.03% and a return on equity of 158.41%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $3.11 EPS. On average, research analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 annualized dividend and a dividend yield of 4.02%. AbbVie’s payout ratio is 79.89%.

AbbVie Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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