Ninepoint Partners LP purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,983 shares of the company's stock, valued at approximately $1,044,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Financial LLC purchased a new position in shares of AbbVie in the first quarter worth $30,000. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares in the last quarter. Cypress Capital Management LLC WY purchased a new position in AbbVie in the first quarter worth about $35,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie during the fourth quarter worth $32,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of AbbVie during the 4th quarter worth about $36,000. 70.23% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ABBV has been the subject of several research reports. Bank of America boosted their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Morgan Stanley lifted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Guggenheim lifted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.
Check Out Our Latest Stock Report on AbbVie
AbbVie Stock Performance
ABBV stock traded down $0.61 during trading on Friday, hitting $190.22. The company had a trading volume of 3,786,155 shares, compared to its average volume of 6,461,288. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The firm has a 50-day moving average price of $187.62 and a 200-day moving average price of $189.77. 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 firm has a market cap of $336.00 billion, a PE ratio of 80.94, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.
AbbVie Profile
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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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