Calamos Advisors LLC Has $105.13 Million Stake in AbbVie Inc. (NYSE:ABBV)

Calamos Advisors LLC grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 501,761 shares of the company's stock after buying an additional 58,470 shares during the quarter. Calamos Advisors LLC's holdings in AbbVie were worth $105,129,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ABBV. Vanguard Group Inc. raised its stake in AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Capital Research Global Investors increased its position in shares of AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after purchasing an additional 778,126 shares in the last quarter. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth about $4,459,385,000. Finally, Northern Trust Corp increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 0.7%

NYSE:ABBV traded down $1.25 on Friday, reaching $189.50. The company's stock had a trading volume of 3,706,217 shares, compared to its average volume of 6,249,990. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market cap of $334.73 billion, a PE ratio of 80.64, a PEG ratio of 1.26 and a beta of 0.48. The business's 50-day moving average price is $187.37 and its two-hundred day moving average price is $188.56.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the firm earned $2.31 EPS. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABBV. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Eight research 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 stock. According to data from MarketBeat.com, the company 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.