D.A. Davidson & CO. Has $52.93 Million Position in AbbVie Inc. (NYSE:ABBV)

D.A. Davidson & CO. lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,633 shares of the company's stock after purchasing an additional 2,807 shares during the period. D.A. Davidson & CO.'s holdings in AbbVie were worth $52,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Rosenberg Matthew Hamilton raised its holdings in AbbVie by 8.8% during the first quarter. Rosenberg Matthew Hamilton now owns 3,439 shares of the company's stock worth $721,000 after purchasing an additional 278 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of AbbVie by 6.1% during the first quarter. Principal Financial Group Inc. now owns 2,615,465 shares of the company's stock valued at $547,992,000 after buying an additional 149,662 shares during the period. MBM Wealth Consultants LLC lifted its stake in shares of AbbVie by 2.2% during the 1st quarter. MBM Wealth Consultants LLC now owns 11,592 shares of the company's stock worth $2,429,000 after purchasing an additional 246 shares during the period. Clark Asset Management LLC acquired a new stake in AbbVie in the 1st quarter worth about $364,000. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of AbbVie by 1.0% in the 1st quarter. Resonant Capital Advisors LLC now owns 14,537 shares of the company's stock valued at $3,046,000 after purchasing an additional 150 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 0.7%

Shares of AbbVie stock traded down $1.25 on Friday, hitting $189.50. 3,706,217 shares of the company traded hands, compared to its average volume of 6,248,905. The company has a 50-day moving average price of $187.37 and a 200 day moving average price of $188.46. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.63 and a 12-month high of $218.66. The company has a market cap of $334.73 billion, a PE ratio of 80.64, a PEG ratio of 1.26 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results 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 business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the firm earned $2.31 EPS. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.46%. AbbVie's payout ratio is presently 279.15%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABBV. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Guggenheim boosted their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Bank of America raised their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Evercore ISI lifted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eight research 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, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price 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.