AbbVie Inc. (NYSE:ABBV) Shares Acquired by Csenge Advisory Group

Csenge Advisory Group increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,040 shares of the company's stock after purchasing an additional 2,926 shares during the quarter. Csenge Advisory Group's holdings in AbbVie were worth $5,246,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. 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 last quarter. Peninsula Wealth LLC raised its stake in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after purchasing an additional 54 shares during the period. Connecticut Wealth Management LLC raised its stake in shares of AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares during the period. Castle Wealth Management LLC raised its stake in shares of AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after purchasing an additional 57 shares during the period. Finally, Northstar Group Inc. raised its stake in shares of AbbVie by 0.7% during the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock valued at $1,783,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

Shares of AbbVie stock traded down $2.14 during trading hours on Friday, hitting $189.26. The company's stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,326,641. The business has a 50 day moving average price of $187.17 and a two-hundred day moving average price of $189.46. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The company has a market cap of $334.31 billion, a PE ratio of 80.54, a PEG ratio of 1.25 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (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 firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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 3.47%. AbbVie's payout ratio is presently 279.15%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABBV. Morgan Stanley upped 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. Guggenheim increased their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Bank of America increased their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

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.