AbbVie Inc. (NYSE:ABBV) Shares Bought by Capital Advisors Inc. OK

Capital Advisors Inc. OK boosted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 346,804 shares of the company's stock after acquiring an additional 11,793 shares during the period. AbbVie accounts for about 1.4% of Capital Advisors Inc. OK's portfolio, making the stock its 18th largest holding. Capital Advisors Inc. OK's holdings in AbbVie were worth $72,662,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ABBV. Steel Grove Capital Advisors LLC increased its position in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after acquiring an additional 52 shares during the period. Peninsula Wealth LLC increased its position in shares of AbbVie by 4.1% during 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 increased its position in shares of AbbVie by 1.6% during 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 increased its position in shares of AbbVie by 3.4% during 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. increased its holdings in AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock valued at $1,783,000 after buying an additional 58 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Citigroup raised their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Morgan Stanley raised their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Eight equities 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Price Performance

Shares of ABBV traded down $0.13 during mid-day trading on Wednesday, reaching $189.64. 1,747,433 shares of the company's stock were exchanged, compared to its average volume of 6,265,700. 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 company has a 50-day simple moving average of $187.19 and a two-hundred day simple moving average of $188.77. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The company has a market cap of $334.98 billion, a price-to-earnings ratio of 80.72, a PEG ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

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.