Adams Diversified Equity Fund Inc. Sells 58,300 Shares of AbbVie Inc ...
📉 Adams Diversified Equity Fund sold 58,300 AbbVie shares, reducing stake by 31.1%.
💰 AbbVie Q1 revenue hit $15 billion, beating analyst expectations of $14.72 billion.
📊 EPS reached $2.65, surpassing the consensus estimate of $2.59 by $0.06.
💵 Quarterly dividend declared at $1.73 with an annualized yield of 2.8%.
🔼 Analysts Piper Sandler and Canaccord Genuity raised price targets to $298 and $273.
📉 Adams Diversified Equity Fund Inc. sold 58,300 shares of AbbVie, reducing its position by 31.1% to hold 129,400 shares worth $28.1 million.
📈 Other institutional investors including Imprint Wealth LLC and Westend Capital Management LLC initiated or boosted their stakes in the fourth quarter.
💰 AbbVie reported Q1 revenue of $15 billion, a 12.4% increase year-over-year that exceeded analyst expectations of $14.72 billion.
📊 The company posted earnings per share of $2.65, beating the consensus estimate of $2.59 by $0.06.
💵 AbbVie declared a quarterly dividend of $1.73 with an ex-dividend date of July 15th and an annualized yield of 2.8%.
📈 Piper Sandler reissued an 'overweight' rating with a $298.00 price target on AbbVie shares.
🔼 Canaccord Genuity raised its price target from $265.00 to $273.00 and maintained a 'buy' rating.
📉 The stock carries a high payout ratio of 340.89% based on the declared dividend amount.
🏥 AbbVie's revenue growth was driven by its portfolio in immunology, oncology, neuroscience, virology, and women's health.
📊 MarketBeat data shows a consensus price target of $253.81 with an average rating of 'Moderate Buy'.
- Revenue hit $15B, up 12.4% year-over-year.
- EPS reached $2.65, beating estimates by $0.06.
- Piper Sandler set price target at $298.
- Canaccord raised target to $273 with buy rating.
- Guggenheim maintains buy rating at $249 target.
- Cantor Fitzgerald reiterated overweight rating on shares.
- Dividend yield stands at 2.8% annually.
- High payout ratio of 340.89% exceeds earnings per share.
- Negative return on equity of -576.45% for the quarter.
- Institutional holder reduced position by 31.1% in Q1.
- AbbVie reported revenue of $15 billion, representing a 12.4% year-over-year increase that surpassed analyst expectations of $14.72 billion.
- The company posted earnings per share of $2.65, beating the consensus estimate of $2.59 by $0.06.
- Piper Sandler reissued an 'overweight' rating and set a price target of $298.00 on AbbVie shares.
- Canaccord Genuity raised its price target from $265.00 to $273.00 and reaffirmed a 'buy' rating.
- Guggenheim reaffirmed a 'buy' rating with a price target of $249.00 on AbbVie stock.
- Cantor Fitzgerald reiterated an 'overweight' rating on AbbVie shares in its latest research report.
- AbbVie maintains a quarterly dividend of $1.73, providing an annualized yield of 2.8% to investors.
- AbbVie has a high payout ratio of 340.89%, indicating that the declared dividend exceeds current earnings per share.
- The company reported a negative return on equity of -576.45% for the quarter.
- Adams Diversified Equity Fund Inc., a significant institutional holder, reduced its position by 31.1% in the first quarter.