Family Capital Management Inc. Purchases New Holdings in AbbVie Inc. (NYSE:ABBV)

Family Capital Management Inc. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,440 shares of the company's stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Abound Financial LLC acquired a new position in AbbVie during the first quarter worth $30,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the fourth quarter worth $32,000. Siemens Fonds Invest GmbH raised its holdings in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at about $36,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.5%

Shares of NYSE:ABBV traded up $0.97 during trading on Wednesday, reaching $190.74. 5,593,883 shares of the stock traded hands, compared to its average volume of 6,289,094. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The stock has a market cap of $336.92 billion, a P/E ratio of 81.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.48. The stock has a 50-day moving average of $187.10 and a two-hundred day moving average of $188.78.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side 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. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.44%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.

Analyst Ratings Changes

ABBV has been the subject of several research reports. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target for the company. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Evercore ISI increased their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Guggenheim increased their target price 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 assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie has a consensus 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.