BluePointe Capital Management LLC bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,424 shares of the company's stock, valued at approximately $298,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Steel Grove Capital Advisors LLC raised its stake in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after buying an additional 52 shares during the last quarter. Peninsula Wealth LLC grew its holdings in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after acquiring an additional 54 shares during the period. Connecticut Wealth Management LLC grew its holdings in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after acquiring an additional 57 shares during the period. Castle Wealth Management LLC grew its holdings in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after acquiring an additional 57 shares during the period. Finally, Northstar Group Inc. raised its stake in shares of AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after buying an additional 58 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Evercore ISI upped 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. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim increased their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Citigroup increased their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. 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 company has a consensus rating of "Moderate Buy" and an average price target of $211.29.
Get Our Latest Report on ABBV
AbbVie Stock Down 1.1%
Shares of NYSE:ABBV traded down $2.18 on Friday, reaching $189.23. The company had a trading volume of 2,416,242 shares, compared to its average volume of 6,957,324. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The firm's 50 day simple moving average is $187.07 and its 200-day simple moving average is $189.30. The firm has a market capitalization of $334.25 billion, a PE ratio of 80.54, a PEG ratio of 1.26 and a beta of 0.48. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.
AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The firm 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. AbbVie's payout ratio is 279.15%.
About AbbVie
(
Free Report)
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.
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