AMG National Trust Bank increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 20.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,977 shares of the company's stock after buying an additional 4,710 shares during the period. AMG National Trust Bank's holdings in AbbVie were worth $6,085,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Chelsea Counsel Co. acquired a new stake in AbbVie in the 3rd quarter worth about $26,000. Litman Gregory Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth approximately $28,000. Imprint Wealth LLC increased its position in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after purchasing an additional 45 shares during the last quarter. Westend Capital Management LLC purchased a new position in AbbVie during the fourth quarter worth approximately $29,000. Finally, IFC & Insurance Marketing Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 70.23% of the company's stock.
Analyst Ratings Changes
ABBV has been the topic of several research reports. Royal Bank Of Canada increased their target price on AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday. Piper Sandler restated an "overweight" rating and set a $298.00 price target on shares of AbbVie in a research note on Tuesday, June 23rd. BMO Capital Markets raised their price objective on AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a report on Monday. Weiss Ratings reiterated a "hold (c)" rating on shares of AbbVie in a report on Monday, June 8th. Finally, Guggenheim increased their target price on shares of AbbVie from $249.00 to $261.00 and gave the stock a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $266.24.
Check Out Our Latest Stock Report on AbbVie
AbbVie Price Performance
Shares of ABBV stock opened at $248.06 on Tuesday. AbbVie Inc. has a 12 month low of $184.63 and a 12 month high of $261.64. The firm has a market capitalization of $438.27 billion, a P/E ratio of 122.20, a P/E/G ratio of 0.81 and a beta of 0.30. The company's fifty day moving average price is $226.15 and its two-hundred day moving average price is $221.34.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.72 billion. During the same quarter in the previous year, the firm posted $2.46 earnings per share. The company's revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.3 EPS for the current year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie's payout ratio is 340.89%.
AbbVie Company Profile
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Free Report)
AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.
AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.
See Also
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