CWM LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 309,251 shares of the company's stock after buying an additional 33,232 shares during the quarter. CWM LLC's holdings in AbbVie were worth $64,794,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new stake in AbbVie in the first quarter valued at $30,000. EnRich Financial Partners LLC increased its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $32,000. Pinney & Scofield Inc. acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 70.23% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on ABBV shares. Morgan Stanley boosted their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Guggenheim upped 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Bank of America upped their target price on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Eight 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $211.29.
View Our Latest Report on AbbVie
AbbVie Trading Up 2.2%
NYSE:ABBV traded up $4.14 on Wednesday, hitting $190.53. 6,202,432 shares of the stock were exchanged, compared to its average volume of 6,329,528. The stock has a market cap of $336.55 billion, a PE ratio of 81.08, a PEG ratio of 1.24 and a beta of 0.48. 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 fifty day moving average of $186.90 and a 200-day moving average of $189.19. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly 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. The company 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 firm's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.44%. AbbVie's payout ratio is currently 279.15%.
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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