AbbVie Inc. (NYSE:ABBV) Shares Acquired by LifeSteps Financial Inc.

by · The Cerbat Gem

LifeSteps Financial Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,304 shares of the company’s stock after acquiring an additional 71 shares during the period. AbbVie accounts for approximately 1.2% of LifeSteps Financial Inc.’s portfolio, making the stock its 21st biggest holding. LifeSteps Financial Inc.’s holdings in AbbVie were worth $1,530,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ABBV. Vanguard Group Inc. boosted its stake in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after buying an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC boosted its stake in AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after buying an additional 983,888 shares during the last quarter. Capital Research Global Investors boosted its stake in AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after buying an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. Finally, Norges Bank acquired a new stake in AbbVie in the 4th quarter worth about $4,459,385,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $185.64 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock’s 50 day moving average is $185.74 and its two-hundred day moving average is $187.81. The company has a market capitalization of $327.91 billion, a PE ratio of 79.00, a P/E/G ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.53%. AbbVie’s dividend payout ratio is presently 279.15%.

Analyst Ratings Changes

A number of brokerages have issued reports on ABBV. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Finally, Citigroup lifted their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

View Our Latest Research Report on AbbVie

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by company insiders.

AbbVie Company Profile

(Free Report)

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.

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