Alpine Woods Capital Investors LLC Has $7.28 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Alpine Woods Capital Investors LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,761 shares of the company's stock after selling 8,732 shares during the quarter. AbbVie comprises approximately 1.8% of Alpine Woods Capital Investors LLC's holdings, making the stock its 11th largest position. Alpine Woods Capital Investors LLC's holdings in AbbVie were worth $7,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Crestline Management LP boosted its holdings in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $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 fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after buying an additional 108,993 shares during the period. Quantbot Technologies LP grew its position in AbbVie by 35.8% during 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 in the last quarter. AXA S.A. increased its stake in AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after acquiring an additional 125,568 shares during the period. Finally, Highland Capital Management LLC raised its holdings in AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after acquiring an additional 2,792 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

Shares of NYSE ABBV traded down $2.68 during trading on Friday, reaching $192.32. The company had a trading volume of 4,990,162 shares, compared to its average volume of 6,302,947. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The business's 50 day moving average price is $187.01 and its 200-day moving average price is $188.98. The stock has a market cap of $339.71 billion, a PE ratio of 81.84, a PEG ratio of 1.29 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 EPS. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.41%. AbbVie's dividend payout ratio is currently 279.15%.

Analyst Ratings Changes

ABBV has been the topic of several recent research reports. Morgan Stanley lifted their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Eight 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.