Bridgewater Advisors Inc. Purchases Shares of 10,027 AbbVie Inc. (NYSE:ABBV)

Bridgewater Advisors Inc. bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,027 shares of the company's stock, valued at approximately $1,940,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after acquiring an additional 1,424,237 shares during the period. Geode Capital Management LLC lifted its stake in AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after purchasing an additional 983,888 shares during the last quarter. Capital Research Global Investors grew its holdings in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after purchasing an additional 778,126 shares during the period. Norges Bank bought a new position in AbbVie during the fourth quarter valued at $4,459,385,000. Finally, Northern Trust Corp increased its position in AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after buying an additional 2,299,645 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of NYSE:ABBV traded up $4.14 on Wednesday, hitting $190.53. The company's stock had a trading volume of 6,202,432 shares, compared to its average volume of 6,329,532. The company has a 50-day simple moving average of $186.95 and a 200 day simple moving average of $189.20. The company has a market capitalization of $336.55 billion, a PE ratio of 81.08, a PEG ratio of 1.24 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter last year, the company posted $2.31 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ABBV shares. Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Citigroup upped their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Morgan Stanley increased their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight equities 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

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.