Moody Lynn & Lieberson LLC Grows Holdings in AbbVie Inc. (NYSE:ABBV)

Moody Lynn & Lieberson LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 168,169 shares of the company's stock after purchasing an additional 12,217 shares during the period. AbbVie accounts for approximately 2.3% of Moody Lynn & Lieberson LLC's portfolio, making the stock its 15th biggest holding. Moody Lynn & Lieberson LLC's holdings in AbbVie were worth $35,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. increased its stake in shares of AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC increased its position in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after purchasing an additional 983,888 shares during the last quarter. Capital Research Global Investors raised its stake in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $4,459,385,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABBV shares. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI increased their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Finally, Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Eight equities 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 company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Stock Down 0.5%

Shares of NYSE:ABBV traded down $1.02 on Thursday, hitting $189.73. 1,561,391 shares of the company's stock were exchanged, compared to its average volume of 6,230,316. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a market capitalization of $335.14 billion, a PE ratio of 80.88, a P/E/G ratio of 1.26 and a beta of 0.48. The firm's 50-day moving average is $187.12 and its 200 day moving average is $188.23.

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 analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 3.46%. AbbVie's dividend payout ratio is presently 279.15%.

About AbbVie

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.