AbbVie Inc. (NYSE:ABBV) Shares Purchased by EagleClaw Capital Managment LLC

Key Points

• EagleClaw Capital Management LLC increased its holdings in AbbVie Inc. by 5.9%, owning 73,927 shares worth approximately $15.49 million, making it the firm's 6th biggest holding.
• AbbVie has seen significant activity from institutional investors, with 70.23% of the stock held by hedge funds and other large entities, indicating strong market interest.
• The company recently declared a quarterly dividend of $1.64 per share, with an annualized dividend yield of 3.5% and a high payout ratio of 279.15%.

EagleClaw Capital Managment LLC increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,927 shares of the company's stock after acquiring an additional 4,102 shares during the period. AbbVie makes up 2.4% of EagleClaw Capital Managment LLC's investment portfolio, making the stock its 6th largest position. EagleClaw Capital Managment LLC's holdings in AbbVie were worth $15,489,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its holdings in AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after buying an additional 778,126 shares during the period. Northern Trust Corp raised its holdings in AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after buying an additional 2,299,645 shares during the period. FMR LLC raised its holdings in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares during the period. Capital World Investors raised its holdings in AbbVie by 6.2% in the fourth quarter. Capital World Investors now owns 16,410,277 shares of the company's stock valued at $2,915,990,000 after buying an additional 959,242 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AbbVie by 18.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company's stock valued at $2,142,832,000 after buying an additional 1,882,780 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley lifted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday. Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Raymond James Financial lifted their price objective on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a research note on Friday. Finally, 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. Eight equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.81.

AbbVie Stock Performance

AbbVie stock traded up $6.15 during mid-day trading on Friday, reaching $195.17. The company's stock had a trading volume of 8,081,230 shares, compared to its average volume of 5,440,562. The firm has a market cap of $344.75 billion, a price-to-earnings ratio of 92.94, a PEG ratio of 1.25 and a beta of 0.50. The business has a 50 day moving average price of $188.33 and a 200-day moving average price of $190.17. 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 twelve month low of $163.81 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.65 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.

AbbVie 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.