AbbVie Inc. (NYSE:ABBV) is Artemis Investment Management LLP's 8th Largest Position

Artemis Investment Management LLP grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 566,760 shares of the company's stock after purchasing an additional 82,933 shares during the quarter. AbbVie accounts for about 1.8% of Artemis Investment Management LLP's holdings, making the stock its 8th biggest holding. Artemis Investment Management LLP's holdings in AbbVie were worth $118,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Crestline Management LP increased its stake in shares of AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after buying an additional 28,753 shares during the period. Dimensional Fund Advisors LP grew its holdings in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP increased its position in shares of AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after purchasing an additional 276 shares during the last quarter. AXA S.A. increased its position in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after purchasing an additional 125,568 shares during the last quarter. Finally, Weaver Capital Management LLC raised its holdings in shares of AbbVie by 3.9% in the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company's stock valued at $1,727,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Bank of America upped their price target on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Finally, Evercore ISI increased their price target on shares of 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 given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Performance

NYSE:ABBV traded up $3.49 during midday trading on Monday, reaching $185.80. The stock had a trading volume of 3,808,022 shares, compared to its average volume of 6,250,236. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The stock has a market cap of $328.20 billion, a P/E ratio of 79.06, a P/E/G ratio of 1.21 and a beta of 0.50. The firm has a fifty day simple moving average of $186.21 and a two-hundred day simple moving average of $188.12. AbbVie Inc. has a 12-month low of $163.52 and a 12-month 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 (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during 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 company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 279.15%.

About AbbVie

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.