Choreo LLC Buys 4,269 Shares of AbbVie Inc. (NYSE:ABBV)

Choreo LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,163 shares of the company's stock after purchasing an additional 4,269 shares during the quarter. Choreo LLC's holdings in AbbVie were worth $22,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Geode Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Capital Research Global Investors boosted its position in 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 acquiring an additional 778,126 shares during the last quarter. Norges Bank acquired a new position in AbbVie during the 4th quarter worth approximately $4,459,385,000. Northern Trust Corp boosted its position 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 acquiring an additional 2,299,645 shares during the last quarter. Finally, FMR LLC boosted its position in AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after acquiring an additional 4,466,971 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Bank of America upped their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Citigroup upped their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Morgan Stanley upped their price objective on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Cantor Fitzgerald started coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $1.53 during mid-day trading on Tuesday, hitting $186.38. The company had a trading volume of 681,691 shares, compared to its average volume of 6,299,395. The company has a market capitalization of $329.22 billion, a price-to-earnings ratio of 79.27, a P/E/G ratio of 1.25 and a beta of 0.48. AbbVie Inc. has a 1 year low of $163.81 and a 1 year 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's 50-day moving average price is $187.17 and its 200-day moving average price is $189.53.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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. 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 analysts' expectations of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend yield of 3.52%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

About AbbVie

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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