3,355 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by JGP Global Gestao de Recursos Ltda.

Key Points

• JGP Global Gestao de Recursos Ltda. has acquired 3,355 shares of AbbVie Inc., valued at approximately $703,000, making it the 12th largest holding in their portfolio.
• Several hedge funds, including EnRich Financial Partners LLC and Siemens Fonds Invest GmbH, have significantly increased their stakes in AbbVie during the last quarters, demonstrating growing institutional interest in the company.
• AbbVie recently reported quarterly earnings of $2.97 EPS, which was below the consensus estimate, but showed a year-over-year revenue growth of 6.6% to $15.42 billion.

JGP Global Gestao de Recursos Ltda. bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,355 shares of the company's stock, valued at approximately $703,000. AbbVie makes up about 0.5% of JGP Global Gestao de Recursos Ltda.'s holdings, making the stock its 12th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. EnRich Financial Partners LLC boosted its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares in the last quarter. Abound Financial LLC purchased a new stake in AbbVie in the first quarter worth $30,000. Siemens Fonds Invest GmbH grew its stake in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares during the period. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie in the first quarter worth $35,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Guggenheim increased their price objective on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley upped their price objective on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $212.81.

AbbVie Price Performance

Shares of NYSE ABBV opened at $195.17 on Monday. The firm has a market capitalization of $344.75 billion, a PE ratio of 92.94, a price-to-earnings-growth ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The stock's 50-day simple moving average is $188.33 and its 200-day simple moving average is $190.42. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the firm earned $2.65 EPS. The company's quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 312.38%.

About AbbVie

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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