Alta Advisers Ltd Purchases 2,900 Shares of AbbVie Inc. (NYSE:ABBV)

Alta Advisers Ltd grew its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 49.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,765 shares of the company's stock after acquiring an additional 2,900 shares during the quarter. AbbVie comprises about 0.8% of Alta Advisers Ltd's investment portfolio, making the stock its 26th largest holding. Alta Advisers Ltd's holdings in AbbVie were worth $1,836,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LaFleur & Godfrey LLC raised its stake in shares of AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC raised its position in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of 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 acquiring an additional 3,064 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of AbbVie by 11.1% in the fourth quarter. Fisher Asset Management LLC now owns 43,233 shares of the company's stock valued at $7,683,000 after acquiring an additional 4,319 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of AbbVie by 47.4% during the fourth quarter. Jones Financial Companies Lllp now owns 154,645 shares of the company's stock valued at $27,480,000 after acquiring an additional 49,713 shares during the period. Institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Wells Fargo & Company lifted their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Guggenheim raised their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley boosted their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Up 0.4%

ABBV stock traded up $0.79 during mid-day trading on Wednesday, hitting $190.78. The stock had a trading volume of 4,656,650 shares, compared to its average volume of 6,248,191. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a fifty day moving average of $186.85 and a 200 day moving average of $188.22. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $336.99 billion, a price-to-earnings ratio of 81.18, a PEG ratio of 1.26 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced 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 3.44%. AbbVie's dividend payout ratio (DPR) is currently 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.