AbbVie Inc. (NYSE:ABBV) Shares Bought by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management LLC increased its holdings in AbbVie Inc. by 12.0% during the first quarter, owning 24,621 shares valued at approximately $5.16 million.
• AbbVie recently declared a quarterly dividend of $1.64 per share, yielding 3.45% annually, with a payout ratio of 279.15%.
• Following recent earnings results, AbbVie reported a revenue of $13.34 billion for the quarter, exceeding estimates and demonstrating an 8.4% increase compared to last year.

Applied Finance Capital Management LLC increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,621 shares of the company's stock after acquiring an additional 2,632 shares during the period. Applied Finance Capital Management LLC's holdings in AbbVie were worth $5,159,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ABBV. Crestline Management LP raised its position in shares of AbbVie by 438.4% during the 4th 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 last quarter. Narus Financial Partners LLC increased its position in AbbVie by 25.3% during the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after buying an additional 401 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after acquiring an additional 108,993 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of 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 acquiring an additional 276 shares in the last quarter. Finally, AXA S.A. boosted its stake in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after acquiring an additional 125,568 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Evercore ISI boosted their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Citigroup upped their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Morgan Stanley increased their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Stock Performance

NYSE:ABBV opened at $190.22 on Friday. The firm's fifty day simple moving average is $187.62 and its 200 day simple moving average is $189.70. 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 twelve month low of $163.81 and a twelve month high of $218.66. The firm has a market capitalization of $336.00 billion, a price-to-earnings ratio of 80.94, a PEG ratio of 1.27 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share 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 the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, July 15th. 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.

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