AbbVie Inc. (NYSE:ABBV) Shares Bought by Aviso Wealth Management

Key Points

• Aviso Wealth Management increased its stake in AbbVie Inc. by 16.1% in Q1, owning 16,692 shares valued at approximately $3.50 million, making AbbVie its 10th largest holding.
• AbbVie reported earnings that missed expectations with an EPS of $2.97 compared to the consensus of $3.24, but revenue of $15.42 billion exceeded estimates, showing a year-over-year growth of 6.6%.
• The company announced a quarterly dividend of $1.64 per share, translating to an annualized dividend yield of 3.4%, while its current dividend payout ratio is notably high at 279.15%.

Aviso Wealth Management boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 16.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,692 shares of the company's stock after buying an additional 2,317 shares during the period. AbbVie makes up 1.9% of Aviso Wealth Management's holdings, making the stock its 10th largest position. Aviso Wealth Management's holdings in AbbVie were worth $3,497,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Crestline Management LP boosted its stake in shares of AbbVie by 438.4% in 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 last quarter. Narus Financial Partners LLC boosted its position in AbbVie by 25.3% during the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after purchasing an additional 401 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. AXA S.A. boosted its position in AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC boosted its position in AbbVie by 6.3% during the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $9,817,000 after purchasing an additional 2,792 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Citigroup increased their target price on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Evercore ISI increased their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Bank of America increased their price target on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Finally, Morgan Stanley raised their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $212.81.

AbbVie Price Performance

Shares of AbbVie stock traded up $6.15 during trading on Friday, hitting $195.17. 8,081,230 shares of the company were exchanged, compared to its average volume of 5,440,562. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The stock has a market capitalization of $344.75 billion, a price-to-earnings ratio of 92.94, a P/E/G ratio of 1.29 and a beta of 0.50. The firm has a 50 day moving average price of $188.33 and a 200 day moving average price of $190.30.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. The company's revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 312.38%.

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.