Advisor OS LLC Raises Stake in AbbVie Inc. (NYSE:ABBV)

Advisor OS LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,399 shares of the company's stock after acquiring an additional 1,331 shares during the quarter. Advisor OS LLC's holdings in AbbVie were worth $3,436,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC raised its position in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after buying an additional 276 shares during the last quarter. Ashton Thomas Securities LLC increased its stake in shares of AbbVie by 7.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 2,082 shares of the company's stock worth $367,000 after purchasing an additional 140 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its stake in shares of AbbVie by 2.6% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 6,214 shares of the company's stock worth $1,104,000 after buying an additional 156 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

NYSE:ABBV traded down $0.61 during trading hours on Friday, reaching $190.22. The company had a trading volume of 3,786,155 shares, compared to its average volume of 6,461,288. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The firm has a market cap of $336.00 billion, a PE ratio of 80.94, a price-to-earnings-growth ratio of 1.27 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 $189.70. 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 (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data 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 return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the company earned $2.31 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Bank of America increased their price target on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Citigroup increased their price target on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Evercore ISI raised their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Eight equities research 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 stock. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

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.