Brookwood Investment Group LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,446 shares of the company's stock, valued at approximately $722,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in AbbVie in the fourth quarter worth approximately $4,459,385,000. GAMMA Investing LLC boosted its position in AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after purchasing an additional 10,195,284 shares in the last quarter. FMR LLC raised its holdings in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares during the period. Franklin Resources Inc. increased its stake in shares of AbbVie by 24.3% during the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after purchasing an additional 3,373,156 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after purchasing an additional 2,299,645 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ABBV has been the subject of a number of research analyst reports. Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. 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. Citigroup upped their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Bank of America upped their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.
Check Out Our Latest Analysis on ABBV
AbbVie Trading Down 0.3%
Shares of AbbVie stock traded down $0.61 during trading hours on Friday, reaching $190.22. The stock had a trading volume of 3,786,155 shares, compared to its average volume of 6,461,288. 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 Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The firm has a 50 day simple moving average of $187.62 and a two-hundred day simple moving average of $189.70. The firm has a market capitalization of $336.00 billion, a price-to-earnings ratio of 80.94, a P/E/G ratio of 1.27 and a beta of 0.48.
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, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.
AbbVie Profile
(
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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