AbbVie Inc. (NYSE:ABBV) Shares Purchased by Norden Group LLC

Key Points

• Norden Group LLC increased its stake in AbbVie by 24.7% in Q1, holding 22,041 shares worth approximately $4.6 million.
• AbbVie declared a quarterly dividend of $1.64 per share, translating to an annual dividend of $6.56 and a yield of 3.45%.
• Analyst ratings are mostly positive, with a consensus target price of $211.29 and a majority of analysts rating the stock as a moderate buy.

Norden Group LLC lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 24.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,041 shares of the company's stock after purchasing an additional 4,360 shares during the quarter. Norden Group LLC's holdings in AbbVie were worth $4,618,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Crestline Management LP raised its position in 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 buying an additional 28,753 shares during the last quarter. Narus Financial Partners LLC increased its stake in shares of AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after acquiring an additional 401 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the last quarter. Quantbot Technologies LP lifted its position in AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after purchasing an additional 276 shares during the period. Finally, AXA S.A. boosted its holdings in AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after purchasing an additional 125,568 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. Bank of America lifted their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI boosted their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $190.22 on Monday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The firm has a market capitalization of $336.00 billion, a PE ratio of 80.94, a P/E/G ratio of 1.25 and a beta of 0.48. The business's 50 day moving average price is $187.62 and its 200-day moving average price is $189.85.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates 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 firm posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 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.

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