Novem Group Has $1.72 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Novem Group increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 24.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,192 shares of the company's stock after acquiring an additional 1,612 shares during the period. Novem Group's holdings in AbbVie were worth $1,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LaFleur & Godfrey LLC grew its stake in AbbVie by 4.1% during 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 during the last quarter. Brighton Jones LLC grew its position in shares of AbbVie by 17.4% during 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 during the last quarter. Revolve Wealth Partners LLC grew its position in shares of 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 increased its holdings in shares of AbbVie by 11.1% in the 4th quarter. Fisher Asset Management LLC now owns 43,233 shares of the company's stock worth $7,683,000 after acquiring an additional 4,319 shares during the period. Finally, Synergy Investment Management LLC bought a new stake in AbbVie in the 4th quarter valued at about $48,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on ABBV shares. Citigroup raised their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Performance

NYSE ABBV traded down $1.25 during trading on Friday, reaching $189.50. 3,706,217 shares of the company's stock were exchanged, compared to its average volume of 6,248,905. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The business has a 50 day moving average price of $187.30 and a 200-day moving average price of $188.36. The stock has a market capitalization of $334.73 billion, a P/E ratio of 80.64, a PEG ratio of 1.27 and a beta of 0.48. AbbVie Inc. has a fifty-two week low of $163.63 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its 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. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the firm earned $2.31 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

AbbVie 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.