AbbVie Inc. (NYSE:ABBV) Shares Purchased by SYM FINANCIAL Corp

SYM FINANCIAL Corp raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 160.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,271 shares of the company's stock after purchasing an additional 3,865 shares during the quarter. SYM FINANCIAL Corp's holdings in AbbVie were worth $1,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Brighton Jones LLC increased its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in AbbVie by 72.7% during the fourth 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 last quarter. Quantbot Technologies LP boosted its holdings in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after purchasing an additional 276 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in AbbVie by 9.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 2,628 shares of the company's stock worth $467,000 after purchasing an additional 230 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $717,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley boosted their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Trading Up 0.2%

ABBV stock traded up $0.30 during midday trading on Thursday, hitting $190.85. The stock had a trading volume of 3,457,672 shares, compared to its average volume of 6,902,547. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The firm has a market cap of $337.12 billion, a PE ratio of 81.21, a price-to-earnings-growth ratio of 1.24 and a beta of 0.48. The company's 50-day moving average price is $187.31 and its 200 day moving average price is $189.55. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last released its 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 return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict 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. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.44%. AbbVie's dividend payout ratio is presently 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.