Dupont Capital Management Corp Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Dupont Capital Management Corp lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,295 shares of the company's stock after buying an additional 4,203 shares during the period. AbbVie makes up approximately 1.5% of Dupont Capital Management Corp's holdings, making the stock its 18th largest position. Dupont Capital Management Corp's holdings in AbbVie were worth $13,890,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of AbbVie in the 4th quarter worth $4,459,385,000. GAMMA Investing LLC boosted its holdings in AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares in the last quarter. Raymond James Financial Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $1,190,951,000. FMR LLC increased its position in AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 0.2%

Shares of ABBV traded down $0.33 during mid-day trading on Friday, hitting $185.16. The company had a trading volume of 12,149,354 shares, compared to its average volume of 6,244,176. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The business's 50-day simple moving average is $185.19 and its 200-day simple moving average is $187.70. The stock has a market cap of $327.06 billion, a PE ratio of 78.79, a P/E/G ratio of 1.23 and a beta of 0.50. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.54%. AbbVie's dividend payout ratio is currently 279.15%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company raised their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Morgan Stanley upped their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. 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 company. According to data from MarketBeat, the company presently 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.