Family Capital Management Inc. Acquires Shares of 1,440 AbbVie Inc. (NYSE:ABBV)

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

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Vanguard Group Inc. grew its holdings in AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the period. Geode Capital Management LLC grew its holdings in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after acquiring an additional 983,888 shares during the period. Capital Research Global Investors grew its holdings in AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after acquiring an additional 778,126 shares during the period. Norges Bank acquired a new stake in AbbVie during the 4th quarter worth $4,459,385,000. Finally, Northern Trust Corp grew its holdings in AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after acquiring an additional 2,299,645 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Up 2.3%

ABBV stock traded up $4.34 during mid-day trading on Thursday, reaching $194.96. The company had a trading volume of 6,044,962 shares, compared to its average volume of 6,288,137. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock has a 50 day simple moving average of $187.10 and a two-hundred day simple moving average of $188.78. The company has a market capitalization of $344.38 billion, a price-to-earnings ratio of 82.96, a PEG ratio of 1.28 and a beta of 0.48. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.31 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.36%. AbbVie's dividend payout ratio is currently 279.15%.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. 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 report on Monday, April 28th. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Guggenheim lifted their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.