Van Strum & Towne Inc. Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Van Strum & Towne Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,904 shares of the company's stock after purchasing an additional 3,012 shares during the period. AbbVie makes up about 3.0% of Van Strum & Towne Inc.'s investment portfolio, making the stock its 10th biggest holding. Van Strum & Towne Inc.'s holdings in AbbVie were worth $8,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Vista Capital Partners Inc. lifted its position in shares of AbbVie by 4.4% during the first quarter. Vista Capital Partners Inc. now owns 2,021 shares of the company's stock worth $423,000 after purchasing an additional 85 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in shares of AbbVie by 0.5% during the first quarter. HighPoint Advisor Group LLC now owns 174,766 shares of the company's stock worth $33,819,000 after purchasing an additional 833 shares during the last quarter. Gries Financial LLC lifted its position in shares of AbbVie by 5.3% during the first quarter. Gries Financial LLC now owns 16,884 shares of the company's stock worth $3,538,000 after purchasing an additional 844 shares during the last quarter. Crestwood Advisors Group LLC lifted its position in shares of AbbVie by 5.4% during the first quarter. Crestwood Advisors Group LLC now owns 119,093 shares of the company's stock worth $24,952,000 after purchasing an additional 6,072 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of AbbVie by 2.2% during the first quarter. Hazlett Burt & Watson Inc. now owns 9,477 shares of the company's stock worth $1,985,000 after purchasing an additional 200 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.4%

Shares of NYSE:ABBV traded up $0.86 during trading on Thursday, reaching $191.41. 1,446,543 shares of the company traded hands, compared to its average volume of 6,887,651. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The firm has a fifty day simple moving average of $187.31 and a 200 day simple moving average of $189.55. The firm has a market cap of $338.10 billion, a P/E ratio of 81.45, a price-to-earnings-growth ratio of 1.24 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.31 EPS. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.43%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Analyst Ratings Changes

ABBV has been the topic of several research reports. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Guggenheim raised 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, The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Company Profile

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.