Commerzbank Aktiengesellschaft FI Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

Commerzbank Aktiengesellschaft FI lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 59,270 shares of the company's stock after acquiring an additional 2,786 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in AbbVie were worth $12,419,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Steel Grove Capital Advisors LLC raised its position in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing 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 valued at $242,000 after buying 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 valued at $660,000 after buying 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 valued at $361,000 after buying an additional 57 shares during the period. Finally, Northstar Group Inc. increased its position in shares of AbbVie by 0.7% during 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 period. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 1.1%

Shares of AbbVie stock traded down $2.14 during trading on Friday, hitting $189.26. The stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,317,072. The firm's fifty day simple moving average is $187.07 and its 200-day simple moving average is $189.30. The stock has a market cap of $334.31 billion, a PE ratio of 80.54, a PEG ratio of 1.26 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the business posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is 279.15%.

Analyst Ratings Changes

Several brokerages recently issued reports on ABBV. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Guggenheim increased their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie 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.