Bridges Investment Management Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 192,031 shares of the company's stock after acquiring an additional 12,165 shares during the period. Bridges Investment Management Inc.'s holdings in AbbVie were worth $40,234,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Brighton Jones LLC lifted its holdings in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in AbbVie by 50.8% during the 4th quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock valued at $1,177,000 after purchasing an additional 2,230 shares during the last quarter. Clare Market Investments LLC bought a new position in AbbVie during the 4th quarter valued at about $260,000. Finally, Channing Capital Management LLC lifted its holdings in AbbVie by 9.7% during the 4th quarter. Channing Capital Management LLC now owns 60,798 shares of the company's stock valued at $10,804,000 after purchasing an additional 5,397 shares during the last quarter. 70.23% of the stock is owned by institutional investors.
AbbVie Trading Down 1.4%
AbbVie stock traded down $2.68 during midday trading on Friday, hitting $192.32. 4,990,162 shares of the stock were exchanged, compared to its average volume of 6,302,947. The company has a fifty day simple moving average of $187.01 and a two-hundred day simple moving average of $188.98. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The stock has a market capitalization of $339.71 billion, a PE ratio of 81.84, a P/E/G ratio of 1.29 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data 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. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm earned $2.31 EPS. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Announces Dividend
The company 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 dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on ABBV. Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.
Get Our Latest Research Report on AbbVie
About AbbVie
(
Free Report)
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.
Recommended Stories
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
