Blair William & Co. IL Has $260.46 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• Blair William & Co. IL increased its stake in AbbVie by 3.5%, owning approximately 1.24 million shares valued at $260 million, making it the firm's 27th largest holding.
• AbbVie's quarterly earnings showed a net revenue of $15.42 billion, surpassing analysts' expectations, although the EPS of $2.97 missed the consensus estimate of $3.24.
• The company recently declared a quarterly dividend of $1.64, representing an annualized yield of 3.4% with a payout ratio of 279.15%.

Blair William & Co. IL lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,243,105 shares of the company's stock after purchasing an additional 41,998 shares during the quarter. AbbVie comprises 0.8% of Blair William & Co. IL's portfolio, making the stock its 27th largest position. Blair William & Co. IL owned approximately 0.07% of AbbVie worth $260,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crestline Management LP boosted its stake in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after purchasing an additional 28,753 shares in the last quarter. Narus Financial Partners LLC boosted its stake in AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock valued at $417,000 after purchasing an additional 401 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. AXA S.A. boosted its stake in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC boosted its stake in shares of AbbVie by 6.3% during the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $9,817,000 after acquiring an additional 2,792 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABBV. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Bank of America raised their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Eight research 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 stock currently has an average rating of "Moderate Buy" and an average target price of $212.81.

AbbVie Price Performance

Shares of ABBV traded up $1.83 on Monday, hitting $197.05. The company's stock had a trading volume of 4,216,467 shares, compared to its average volume of 5,844,660. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The company has a 50 day moving average price of $188.33 and a 200 day moving average price of $190.42. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a market capitalization of $348.07 billion, a PE ratio of 93.83, a PEG ratio of 1.27 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share 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 during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the firm earned $2.65 EPS. The business's revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 issued 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 3.3%. AbbVie's payout ratio is 312.38%.

AbbVie 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.