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AbbVie Inc. reported strong earnings, raised its dividend, yet saw a slight drop in one major investor's stake.
Canandaigua National Bank & Trust Co. reduced its stake in AbbVie Inc. by 1.5%, while other investors like Oliver Luxxe Assets LLC increased their holdings.
AbbVie reported a strong quarter, beating EPS estimates by $0.08, and raised its quarterly dividend to $1.64, a 3.65% yield.
The pharmaceutical company, known for its drug Humira, has a market cap of $317.78 billion and a price-to-earnings ratio of 62.44.
Analysts have given AbbVie a "Moderate Buy" rating with an average price target of $205.70.
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AbbVie Inc. informó de fuertes ganancias, aumentó su dividendo, sin embargo, vio una ligera caída en la participación de un inversor importante.