L & S Advisors Inc Has $11.23 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• L & S Advisors Inc increased its holdings in AbbVie by 189.0% during the 1st quarter, acquiring a total of 53,595 shares, representing 1.4% of their portfolio.
• AbbVie reported $2.97 EPS for the most recent quarter, missing estimates by $0.27, but its revenue was up 6.6% year-over-year at $15.42 billion.
• The company declared a quarterly dividend of $1.64 per share, with an annualized yield of 3.4% and a dividend payout ratio of 279.15%.

L & S Advisors Inc lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 189.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,595 shares of the company's stock after buying an additional 35,048 shares during the period. AbbVie comprises 1.4% of L & S Advisors Inc's portfolio, making the stock its 15th biggest holding. L & S Advisors Inc's holdings in AbbVie were worth $11,229,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Steel Grove Capital Advisors LLC increased its holdings in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC increased its holdings in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after purchasing an additional 54 shares in the last quarter. Private Management Group Inc. increased its holdings in shares of AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after purchasing an additional 54 shares in the last quarter. Connecticut Wealth Management LLC increased its holdings in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares in the last quarter. Finally, Castle Wealth Management LLC increased its holdings in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of AbbVie stock traded up $1.83 on Monday, reaching $197.05. 4,216,467 shares of the stock were exchanged, compared to its average volume of 5,844,660. The firm's 50 day moving average is $188.33 and its 200-day moving average is $190.42. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market cap of $348.07 billion, a PE ratio of 93.83, a P/E/G ratio of 1.27 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period last year, the company posted $2.65 EPS. The business's revenue was up 6.6% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.3%. AbbVie's dividend payout ratio is presently 312.38%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Raymond James Financial lifted their target price on shares of AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a report on Friday. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $212.81.

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.