Diversify Advisory Services LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Diversify Advisory Services LLC grew its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,893 shares of the company's stock after purchasing an additional 1,788 shares during the period. Diversify Advisory Services LLC's holdings in AbbVie were worth $3,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Crestline Management LP lifted its holdings in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after buying an additional 28,753 shares in the last quarter. Narus Financial Partners LLC lifted its holdings in AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after buying an additional 401 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its holdings in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after buying an additional 276 shares in the last quarter. Finally, AXA S.A. lifted its holdings in AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after buying an additional 125,568 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Citigroup raised their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Guggenheim raised their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eight 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Trading Down 1.1%

ABBV stock traded down $2.14 during midday trading on Friday, hitting $189.26. The stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,326,641. The firm has a market cap of $334.31 billion, a P/E ratio of 80.54, a price-to-earnings-growth ratio of 1.25 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. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The business has a fifty day moving average price of $187.17 and a two-hundred day moving average price of $189.46.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 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.