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

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the period. Geode Capital Management LLC increased its stake in AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after buying an additional 983,888 shares during the period. Capital Research Global Investors lifted its position in AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after buying an additional 778,126 shares in the last quarter. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter valued at $4,459,385,000. Finally, Northern Trust Corp raised its holdings in shares of AbbVie by 11.8% during the fourth 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 in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 1.0%

Shares of NYSE:ABBV traded up $1.97 during trading on Tuesday, reaching $189.60. 5,523,941 shares of the stock were exchanged, compared to its average volume of 6,283,616. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The stock has a fifty day moving average of $187.27 and a two-hundred day moving average of $188.76. 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 firm has a market cap of $334.91 billion, a price-to-earnings ratio of 80.68, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the company posted $2.31 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 3.46%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABBV. Morgan Stanley raised their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Bank of America raised their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Finally, Citigroup upped their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Eight investment 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.