James Investment Research Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,411 shares of the company's stock after selling 2,099 shares during the quarter. James Investment Research Inc.'s holdings in AbbVie were worth $7,419,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp boosted its stake in shares of AbbVie by 0.9% in the first quarter. Mechanics Financial Corp now owns 8,375 shares of the company's stock worth $1,755,000 after acquiring an additional 77 shares during the period. Altman Advisors Inc. boosted its holdings in shares of AbbVie by 1.8% in the 1st quarter. Altman Advisors Inc. now owns 15,449 shares of the company's stock worth $3,014,000 after purchasing an additional 274 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in AbbVie by 0.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 384,495 shares of the company's stock valued at $80,559,000 after acquiring an additional 3,573 shares during the period. Parcion Private Wealth LLC boosted its holdings in AbbVie by 7.8% during the 1st quarter. Parcion Private Wealth LLC now owns 15,606 shares of the company's stock valued at $3,270,000 after acquiring an additional 1,125 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in AbbVie by 0.3% during the 1st quarter. Segall Bryant & Hamill LLC now owns 37,862 shares of the company's stock valued at $7,933,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.
AbbVie Trading Up 0.4%
AbbVie stock traded up $0.68 during mid-day trading on Thursday, hitting $191.26. 4,805,477 shares of the stock were exchanged, compared to its average volume of 6,323,468. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The firm's fifty day simple moving average is $186.95 and its two-hundred day simple moving average is $189.20. The stock has a market capitalization of $337.83 billion, a price-to-earnings ratio of 81.39, a PEG ratio of 1.24 and a beta of 0.48.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 EPS. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Dividend Announcement
The firm also recently declared 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on ABBV shares. Citigroup boosted their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Morgan Stanley lifted their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Evercore ISI boosted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $211.29.
Get Our Latest Stock Analysis on AbbVie
AbbVie Company Profile
(
Free Report)
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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