AbbVie Inc. (NYSE:ABBV) Shares Acquired by Metis Global Partners LLC

Key Points

• Metis Global Partners LLC has increased its stake in AbbVie Inc. by 13.8%, now holding 112,234 shares valued at approximately $23.5 million.
• AbbVie reported an earnings per share (EPS) of $2.46 for the last quarter, exceeding estimates and reflecting a 8.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.64, representing a yield of 3.45%, set to be paid on August 15th to investors of record.

Metis Global Partners LLC raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,234 shares of the company's stock after buying an additional 13,570 shares during the quarter. AbbVie comprises about 0.7% of Metis Global Partners LLC's portfolio, making the stock its 22nd biggest holding. Metis Global Partners LLC's holdings in AbbVie were worth $23,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. First National Advisers LLC acquired a new stake in shares of AbbVie during the first quarter worth about $215,000. Capital City Trust Co. FL lifted its position in shares of AbbVie by 1.2% during the first quarter. Capital City Trust Co. FL now owns 37,441 shares of the company's stock worth $7,845,000 after purchasing an additional 453 shares in the last quarter. Horan Capital Advisors LLC. lifted its position in shares of AbbVie by 0.6% during the first quarter. Horan Capital Advisors LLC. now owns 15,747 shares of the company's stock worth $3,299,000 after purchasing an additional 94 shares in the last quarter. Alteri Wealth LLC lifted its position in shares of AbbVie by 3.0% during the first quarter. Alteri Wealth LLC now owns 7,054 shares of the company's stock worth $1,478,000 after purchasing an additional 208 shares in the last quarter. Finally, Atlantic Family Wealth LLC acquired a new stake in shares of AbbVie during the first quarter worth about $305,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

AbbVie stock traded up $1.53 during midday trading on Thursday, reaching $190.84. The company's stock had a trading volume of 6,368,887 shares, compared to its average volume of 6,839,678. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a market capitalization of $337.10 billion, a PE ratio of 81.30, a P/E/G ratio of 1.26 and a beta of 0.48. The stock's 50 day simple moving average is $187.97 and its 200 day simple moving average is $189.95. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 7.31% and a return on equity of 412.03%. During the same period in the previous year, the firm posted $2.65 earnings per share. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Analysts Set New Price Targets

ABBV has been the topic of several research reports. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Morgan Stanley upped their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Citigroup upped their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

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.