Brick & Kyle Associates decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 42.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,358 shares of the company's stock after selling 14,985 shares during the quarter. AbbVie comprises about 2.0% of Brick & Kyle Associates' investment portfolio, making the stock its 22nd biggest position. Brick & Kyle Associates' holdings in AbbVie were worth $4,256,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Abound Financial LLC purchased a new position in shares of AbbVie in the 1st quarter worth $30,000. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares during the period. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $32,000. Pinney & Scofield Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new position in AbbVie in the first quarter valued at about $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Stock Performance
ABBV stock traded up $4.34 during midday trading on Thursday, reaching $194.96. The company had a trading volume of 6,044,962 shares, compared to its average volume of 6,297,739. 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 50 day moving average price of $187.13 and a 200 day moving average price of $188.90. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a market capitalization of $344.38 billion, a PE ratio of 82.96, a P/E/G ratio of 1.29 and a beta of 0.48.
AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.36%. AbbVie's dividend payout ratio is presently 279.15%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on ABBV shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Guggenheim lifted their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup lifted their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Finally, BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $211.29.
Check Out Our Latest Research Report on AbbVie
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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