Capital Investment Advisory Services LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 30.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,628 shares of the company's stock after purchasing an additional 11,576 shares during the quarter. AbbVie comprises 0.9% of Capital Investment Advisory Services LLC's investment portfolio, making the stock its 18th biggest position. Capital Investment Advisory Services LLC's holdings in AbbVie were worth $10,398,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of ABBV. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $32,000. Siemens Fonds Invest GmbH boosted its holdings in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after buying an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Trading Down 0.7%
Shares of ABBV stock traded down $1.25 on Friday, reaching $189.50. 3,706,217 shares of the company's stock were exchanged, compared to its average volume of 6,249,990. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $334.73 billion, a PE ratio of 80.64, a P/E/G ratio of 1.26 and a beta of 0.48. The company's fifty day simple moving average is $187.37 and its 200 day simple moving average is $188.46.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the company earned $2.31 EPS. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Dividend Announcement
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 given a dividend of $1.64 per share. 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 dividend payout ratio (DPR) is presently 279.15%.
Wall Street Analyst Weigh In
ABBV has been the subject of a number of analyst reports. Guggenheim increased their price target on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Bank of America increased their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.
View Our Latest Report on ABBV
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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