Astoria Portfolio Advisors LLC. Sells 1,507 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Astoria Portfolio Advisors LLC. cut its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 21.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,572 shares of the company’s stock after selling 1,507 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in AbbVie were worth $1,167,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Crestline Management LP increased its stake in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after buying an additional 28,753 shares during the period. Dimensional Fund Advisors LP grew its stake in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP increased its position in shares of AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after acquiring an additional 276 shares during the period. AXA S.A. boosted its holdings in shares of AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after purchasing an additional 125,568 shares during the period. Finally, Highland Capital Management LLC boosted its holdings in shares of AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after purchasing an additional 2,792 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ABBV. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Finally, Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.29.

View Our Latest Report on AbbVie

AbbVie Price Performance

NYSE:ABBV opened at $185.80 on Tuesday. The stock’s fifty day moving average is $186.52 and its two-hundred day moving average is $188.21. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $328.20 billion, a P/E ratio of 79.06, a P/E/G ratio of 1.21 and a beta of 0.50.

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

AbbVie Dividend Announcement

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

AbbVie 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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