Braun Stacey Associates Inc. acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 78,670 shares of the company's stock, valued at approximately $16,483,000.
Other large investors have also modified their holdings of the company. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie in the fourth quarter valued at $32,000. Siemens Fonds Invest GmbH increased its holdings in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after buying an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in AbbVie in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.
Wall Street Analyst Weigh In
ABBV has been the topic of several recent analyst reports. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Bank of America increased their target price on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $211.29.
View Our Latest Stock Analysis on ABBV
AbbVie Stock Performance
Shares of ABBV traded up $1.97 during mid-day trading on Tuesday, hitting $189.60. 5,523,941 shares of the company's stock were exchanged, compared to its average volume of 6,283,615. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a market capitalization of $334.91 billion, a P/E ratio of 80.68, a P/E/G ratio of 1.25 and a beta of 0.48. The business's 50 day moving average is $187.19 and its two-hundred day moving average is $188.77. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.46%. AbbVie's dividend payout ratio is currently 279.15%.
AbbVie Company 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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