Arcadia Investment Management Corp MI Has $1.11 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Arcadia Investment Management Corp MI decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,305 shares of the company's stock after selling 2,174 shares during the period. Arcadia Investment Management Corp MI's holdings in AbbVie were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. EnRich Financial Partners LLC boosted its holdings in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $32,000. Siemens Fonds Invest GmbH lifted its position in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $36,000. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV traded up $5.00 during trading hours on Thursday, reaching $195.62. 2,333,404 shares of the company traded hands, compared to its average volume of 6,273,887. The stock's fifty day moving average is $187.10 and its 200 day moving average is $188.78. The stock has a market cap of $345.54 billion, a P/E ratio of 83.15, a price-to-earnings-growth ratio of 1.28 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 Inc. has a 1-year low of $163.81 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. 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 business earned $2.31 EPS. The firm's revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.35%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABBV. Citigroup upped their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley increased their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Eight investment 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, AbbVie has an average 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.