AbbVie Inc. (NYSE:ABBV) Holdings Raised by Davis R M Inc.

Key Points

• Davis R M Inc. has increased its stake in AbbVie by 18.2%, owning a total of 20,638 shares valued at approximately $4.32 million after acquiring additional shares in the first quarter.
• AbbVie announced a quarterly dividend of $1.64 per share, which represents an annualized yield of 3.46% and a significant dividend payout ratio of 279.15%.
• A consensus rating of "Moderate Buy" for AbbVie has emerged from analysts, with an average price target of $211.29 per share.

Davis R M Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 18.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,638 shares of the company's stock after purchasing an additional 3,178 shares during the quarter. Davis R M Inc.'s holdings in AbbVie were worth $4,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EnRich Financial Partners LLC increased its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie in the 1st quarter valued at approximately $30,000. Siemens Fonds Invest GmbH increased its holdings in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $36,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABBV shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Evercore ISI boosted their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Guggenheim boosted their price objective on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday. Finally, Morgan Stanley boosted their price objective on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday. Eight 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $212.81.

AbbVie Price Performance

Shares of AbbVie stock traded up $6.15 during trading on Friday, hitting $195.17. The stock had a trading volume of 8,081,230 shares, compared to its average volume of 5,440,562. 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 firm has a market cap of $344.75 billion, a P/E ratio of 92.94, a PEG ratio of 1.25 and a beta of 0.50. The business has a fifty day moving average of $188.10 and a two-hundred day moving average of $190.04. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The company's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.65 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

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.