Aurora Private Wealth Inc. Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Aurora Private Wealth Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11,620.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,906 shares of the company's stock after purchasing an additional 288,424 shares during the quarter. AbbVie makes up approximately 1.7% of Aurora Private Wealth Inc.'s holdings, making the stock its 7th largest position. Aurora Private Wealth Inc.'s holdings in AbbVie were worth $60,951,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Crestline Management LP lifted its holdings in AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP raised its position in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after acquiring an additional 276 shares during the period. AXA S.A. lifted its stake in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares during the period. Finally, Weaver Capital Management LLC boosted its holdings in shares of AbbVie by 3.9% in the first quarter. Weaver Capital Management LLC now owns 8,240 shares of the company's stock valued at $1,727,000 after acquiring an additional 310 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 0.9%

ABBV traded up $1.67 on Thursday, reaching $187.06. 5,728,909 shares of the company traded hands, compared to its average volume of 6,227,638. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The company has a market cap of $330.42 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.23 and a beta of 0.50. The stock's 50 day moving average price is $185.74 and its 200-day moving average price is $187.81.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the previous year, the company posted $2.31 EPS. AbbVie's revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company 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 $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.51%. AbbVie's dividend payout ratio is currently 279.15%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Morgan Stanley increased their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Finally, Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Eight 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company's stock.

AbbVie 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.