Summit Trail Advisors LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

Summit Trail Advisors LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 22.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,020 shares of the company's stock after acquiring an additional 6,544 shares during the period. Summit Trail Advisors LLC's holdings in AbbVie were worth $7,547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABBV. LaFleur & Godfrey LLC grew its stake in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after buying an additional 3,108 shares in the last quarter. Brighton Jones LLC grew its position in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Fisher Asset Management LLC raised its position in AbbVie by 11.1% during the fourth quarter. Fisher Asset Management LLC now owns 43,233 shares of the company's stock valued at $7,683,000 after purchasing an additional 4,319 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of AbbVie by 47.4% in the 4th quarter. Jones Financial Companies Lllp now owns 154,645 shares of the company's stock valued at $27,480,000 after purchasing an additional 49,713 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. 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. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Down 0.7%

NYSE ABBV traded down $1.25 on Thursday, reaching $189.50. 3,702,499 shares of the stock traded hands, compared to its average volume of 6,238,049. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The company has a fifty day moving average price of $187.12 and a 200-day moving average price of $188.23. The company has a market cap of $334.73 billion, a price-to-earnings ratio of 80.64, a PEG ratio of 1.26 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 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is 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.