Family Capital Management Inc. Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Family Capital Management Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,440 shares of the company's stock, valued at approximately $302,000.

A number of other large investors also recently modified their holdings of ABBV. EnRich Financial Partners LLC raised its stake 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 purchasing an additional 110 shares in the last quarter. Abound Financial LLC purchased a new position in shares of AbbVie during the first quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie during the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH raised its stake in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in shares of AbbVie during the fourth quarter worth approximately $36,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.3%

Shares of ABBV stock traded down $0.50 during mid-day trading on Wednesday, reaching $189.27. 1,811,075 shares of the company's stock traded hands, compared to its average volume of 6,266,368. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company has a market cap of $334.33 billion, a P/E ratio of 80.53, a P/E/G ratio of 1.25 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company's 50-day moving average price is $187.19 and its 200-day moving average price is $188.77.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for 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 company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 EPS. On average, 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 declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.

Analyst Upgrades and Downgrades

Several research firms have commented on ABBV. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Finally, Evercore ISI lifted their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $211.29.

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.