Banque Cantonale Vaudoise Buys Shares of 69,469 AbbVie Inc. (NYSE:ABBV)

Key Points

• Banque Cantonale Vaudoise acquired approximately 69,469 shares of AbbVie Inc., valued at around $14.56 million, making it the company's 20th biggest position in its investment portfolio.
• AbbVie recently reported $2.46 EPS for the quarter, exceeding estimates, with revenue of $13.34 billion, marking an 8.4% increase year-over-year.
• The company's quarterly dividend of $1.64 is set to be paid on August 15th, representing an annualized yield of 3.48%.

Banque Cantonale Vaudoise purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 69,469 shares of the company's stock, valued at approximately $14,556,000. AbbVie makes up approximately 0.6% of Banque Cantonale Vaudoise's investment portfolio, making the stock its 20th largest holding.

Other hedge funds also recently made changes to their positions in the company. FSA Advisors Inc. acquired a new stake in shares of AbbVie during the 1st quarter worth approximately $229,000. GSA Capital Partners LLP grew its position in shares of AbbVie by 215.9% during the 1st quarter. GSA Capital Partners LLP now owns 8,852 shares of the company's stock worth $1,855,000 after buying an additional 6,050 shares during the period. Federated Hermes Inc. grew its position in shares of AbbVie by 27.9% during the 1st quarter. Federated Hermes Inc. now owns 3,283,390 shares of the company's stock worth $687,936,000 after buying an additional 716,468 shares during the period. Geneos Wealth Management Inc. grew its position in shares of AbbVie by 53.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 48,967 shares of the company's stock worth $10,260,000 after buying an additional 17,058 shares during the period. Finally, Cozad Asset Management Inc. grew its position in shares of AbbVie by 1.0% during the 1st quarter. Cozad Asset Management Inc. now owns 18,297 shares of the company's stock worth $3,833,000 after buying an additional 177 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock traded up $6.52 during midday trading on Friday, reaching $195.54. The stock had a trading volume of 5,252,795 shares, compared to its average volume of 6,853,923. 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 $188.10 and its 200 day moving average price is $190.04. The firm has a market capitalization of $345.39 billion, a PE ratio of 83.82, a P/E/G ratio of 1.25 and a beta of 0.48. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 3.4%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Guggenheim lifted their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $212.81.

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.