AbbVie Inc. (NYSE:ABBV) Shares Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,031 shares of the company's stock after purchasing an additional 12,165 shares during the quarter. Bridges Investment Management Inc.'s holdings in AbbVie were worth $40,234,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ABBV. Abound Financial LLC purchased a new stake in AbbVie in the first quarter valued at approximately $30,000. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the 4th quarter valued at approximately $32,000. Pinney & Scofield Inc. acquired a new stake in AbbVie in the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in AbbVie in the first quarter worth about $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Guggenheim raised 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. Finally, Evercore ISI lifted their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Eight 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Up 0.5%

ABBV stock traded up $0.97 during trading on Wednesday, hitting $190.74. 5,593,883 shares of the company's stock were exchanged, compared to its average volume of 6,289,094. The stock has a market capitalization of $336.92 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.28 and a beta of 0.48. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The business has a 50-day moving average price of $187.19 and a two-hundred day moving average price of $188.77.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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 company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the company posted $2.31 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.44%. AbbVie's payout ratio is 279.15%.

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.