G&S Capital LLC Lowers Position in AbbVie Inc. (NYSE:ABBV)

G&S Capital LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,449 shares of the company's stock after selling 2,819 shares during the period. AbbVie comprises about 1.6% of G&S Capital LLC's investment portfolio, making the stock its 13th biggest holding. G&S Capital LLC's holdings in AbbVie were worth $3,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Crestline Management LP lifted its stake in shares of AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of AbbVie by 1.2% in the 4th 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 period. Quantbot Technologies LP lifted its stake in shares of AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares during the period. AXA S.A. lifted its stake in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares during the period. Finally, Highland Capital Management LLC lifted its stake in shares of AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $9,817,000 after purchasing an additional 2,792 shares during the period. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ABBV. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Bank of America lifted their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company lifted their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Up 0.5%

Shares of ABBV stock traded up $1.03 during trading hours on Wednesday, reaching $191.02. 2,228,440 shares of the company's stock were exchanged, compared to its average volume of 6,237,803. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The stock has a market cap of $337.42 billion, a PE ratio of 81.31, a PEG ratio of 1.23 and a beta of 0.48. 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 stock's fifty day moving average price is $186.85 and its two-hundred day moving average price is $188.22.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 earnings per share. Research analysts predict 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. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.43%. AbbVie's dividend payout ratio is currently 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.