AbbVie Inc. (NYSE:ABBV) Shares Sold by World Asset Management Inc

World Asset Management Inc decreased its position in AbbVie Inc. (NYSE:ABBV) by 4.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 48,600 shares of the company’s stock after selling 2,213 shares during the period. World Asset Management Inc’s holdings in AbbVie were worth $5,474,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Tudor Investment Corp Et Al purchased a new stake in shares of AbbVie in the first quarter valued at $1,835,000. Schroder Investment Management Group lifted its position in AbbVie by 6.0% during the first quarter. Schroder Investment Management Group now owns 1,826,123 shares of the company’s stock worth $197,623,000 after buying an additional 103,972 shares during the period. CLARET ASSET MANAGEMENT Corp lifted its position in AbbVie by 7.1% during the second quarter. CLARET ASSET MANAGEMENT Corp now owns 157,384 shares of the company’s stock worth $17,728,000 after buying an additional 10,455 shares during the period. Crawford Investment Counsel Inc. lifted its position in AbbVie by 5.6% during the first quarter. Crawford Investment Counsel Inc. now owns 1,121,058 shares of the company’s stock worth $121,321,000 after buying an additional 59,078 shares during the period. Finally, MML Investors Services LLC lifted its position in AbbVie by 1.7% during the first quarter. MML Investors Services LLC now owns 309,313 shares of the company’s stock worth $33,474,000 after buying an additional 5,121 shares during the period. 65.82% of the stock is currently owned by institutional investors.

In other AbbVie news, SVP Carrie C. Strom sold 5,057 shares of AbbVie stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $120.00, for a total transaction of $606,840.00. Following the sale, the senior vice president now owns 11,595 shares of the company’s stock, valued at approximately $1,391,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Several equities research analysts have commented on ABBV shares. Barclays upped their price target on AbbVie from $105.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Monday, August 2nd. Argus increased their target price on AbbVie from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Truist started coverage on AbbVie in a research note on Tuesday, July 27th. They issued a “buy” rating and a $124.08 target price for the company. Morgan Stanley restated a “buy” rating and set a $116.00 price objective on shares of AbbVie in a research note on Friday, August 20th. Finally, Cowen raised their price objective on AbbVie from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, August 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $123.47.

Shares of NYSE ABBV traded up $1.84 during mid-day trading on Wednesday, hitting $108.32. The company had a trading volume of 148,460 shares, compared to its average volume of 7,020,889. The stock has a market cap of $191.42 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 2.01 and a beta of 0.82. AbbVie Inc. has a 12 month low of $79.11 and a 12 month high of $121.53. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.91 and a quick ratio of 0.79. The firm’s 50 day simple moving average is $115.79 and its two-hundred day simple moving average is $112.80.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 29th. The company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.02. The business had revenue of $13.96 billion for the quarter, compared to the consensus estimate of $13.64 billion. AbbVie had a return on equity of 154.24% and a net margin of 12.40%. The business’s revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. Equities analysts forecast that AbbVie Inc. will post 12.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Friday, October 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Thursday, October 14th. AbbVie’s dividend payout ratio (DPR) is 49.24%.

AbbVie Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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