Atria Investments Inc Has $39.64 Million Position in AbbVie Inc. (NYSE:ABBV)

Atria Investments Inc lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,192 shares of the company's stock after buying an additional 14,335 shares during the period. AbbVie comprises 0.5% of Atria Investments Inc's investment portfolio, making the stock its 28th biggest holding. Atria Investments Inc's holdings in AbbVie were worth $39,640,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ABBV. Abound Financial LLC acquired a new stake in AbbVie during the 1st quarter valued at $30,000. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie during the first quarter worth about $35,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Citigroup upped their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Eight 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Price Performance

ABBV traded down $0.77 during trading on Monday, hitting $189.51. The company's stock had a trading volume of 1,092,258 shares, compared to its average volume of 6,838,594. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The firm's 50 day moving average price is $187.62 and its two-hundred day moving average price is $189.85. 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 capitalization of $334.75 billion, a price-to-earnings ratio of 80.72, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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 company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. 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.