AbbVie Inc. (NYSE:ABBV) Shares Bought by Jericho Financial LLP

Jericho Financial LLP increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,280 shares of the company's stock after buying an additional 2,154 shares during the quarter. AbbVie comprises approximately 3.5% of Jericho Financial LLP's portfolio, making the stock its 12th biggest holding. Jericho Financial LLP's holdings in AbbVie were worth $4,878,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ABBV. Tallon Kerry Patrick purchased a new position in shares of AbbVie in the 4th quarter worth about $309,000. LaFleur & Godfrey LLC raised its holdings in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after purchasing an additional 3,108 shares during the period. Brighton Jones LLC raised its holdings in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in shares of AbbVie by 2.5% in the 4th quarter. First Horizon Advisors Inc. now owns 178,469 shares of the company's stock worth $31,714,000 after purchasing an additional 4,344 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ABBV shares. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Citigroup raised their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Finally, Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Eight investment 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Up 0.9%

NYSE ABBV traded up $1.67 during mid-day trading on Thursday, reaching $187.06. 5,728,909 shares of the company's stock traded hands, compared to its average volume of 6,227,638. The company has a market cap of $330.42 billion, a price-to-earnings ratio of 79.60, a P/E/G ratio of 1.23 and a beta of 0.50. The company has a fifty day simple moving average of $186.03 and a 200-day simple moving average of $187.88. 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 Inc. has a 1-year low of $163.52 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during 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%. The business's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business 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 $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 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.