Crestwood Advisors Group LLC Has $24.95 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Crestwood Advisors Group LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,093 shares of the company's stock after buying an additional 6,072 shares during the period. Crestwood Advisors Group LLC's holdings in AbbVie were worth $24,952,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ABBV. Steel Grove Capital Advisors LLC increased its position in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after buying an additional 52 shares during the period. Peninsula Wealth LLC increased its position in AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after buying an additional 54 shares during the period. Connecticut Wealth Management LLC increased its position in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares during the period. Castle Wealth Management LLC increased its position in AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after buying an additional 57 shares during the period. Finally, Northstar Group Inc. increased its position in AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ABBV shares. Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price on the stock. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Citigroup raised their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Finally, Evercore ISI raised their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Price Performance

Shares of ABBV traded up $0.86 during trading hours on Thursday, hitting $191.41. 1,397,477 shares of the company were exchanged, compared to its average volume of 6,887,243. The company has a market capitalization of $338.10 billion, a PE ratio of 81.51, a PEG ratio of 1.24 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. The firm has a fifty day simple moving average of $187.31 and a 200-day simple moving average of $189.55. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $2.31 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.43%. AbbVie's dividend payout ratio (DPR) is presently 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.