Czech National Bank Increases Holdings in AbbVie Inc. (NYSE:ABBV)

Czech National Bank lifted its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 0.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 310,648 shares of the company’s stock after acquiring an additional 1,373 shares during the period. AbbVie accounts for approximately 0.7% of Czech National Bank’s investment portfolio, making the stock its 22nd biggest holding. Czech National Bank’s holdings in AbbVie were worth $56,569,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Signal Advisors Wealth LLC acquired a new position in AbbVie in the first quarter valued at $332,000. BKA Wealth Consulting Inc. acquired a new stake in shares of AbbVie in the first quarter valued at approximately $227,000. Safeguard Financial LLC purchased a new position in shares of AbbVie during the first quarter worth approximately $235,000. Ellenbecker Investment Group increased its stake in AbbVie by 1.6% in the first quarter. Ellenbecker Investment Group now owns 5,979 shares of the company’s stock valued at $1,089,000 after purchasing an additional 95 shares during the period. Finally, New Hampshire Trust raised its holdings in shares of AbbVie by 3.1% in the first quarter. New Hampshire Trust now owns 36,357 shares of the company’s stock valued at $6,621,000 after buying an additional 1,092 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Piper Sandler boosted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $179.64.

Read Our Latest Report on ABBV

AbbVie Stock Down 0.4 %

Shares of NYSE:ABBV opened at $171.40 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a market capitalization of $302.67 billion, a P/E ratio of 51.08, a P/E/G ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The stock’s fifty day simple moving average is $163.72 and its 200-day simple moving average is $166.45.

AbbVie (NYSE:ABBVGet Free Report) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.62%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

About AbbVie

(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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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