Foundations Investment Advisors LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Key Points

• Foundations Investment Advisors LLC increased its position in AbbVie Inc. by 8.8% in the 1st quarter, now owning 22,567 shares worth $4.73 million.
• Other institutional investors, including GAMMA Investing LLC and FMR LLC, made significant investments, with GAMMA boosting its stake by over 25,841%.
• AbbVie recently announced a quarterly dividend of $1.64 per share, representing a yield of 3.43% and a high dividend payout ratio of 279.15%.

Foundations Investment Advisors LLC increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 8.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,567 shares of the company's stock after buying an additional 1,828 shares during the period. Foundations Investment Advisors LLC's holdings in AbbVie were worth $4,728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares in the last quarter. Abound Financial LLC purchased a new stake in AbbVie in the 1st quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the 4th quarter worth $32,000. Siemens Fonds Invest GmbH increased its stake in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after buying an additional 119,141 shares in the last quarter. Finally, Cypress Capital Management LLC WY purchased a new stake in AbbVie in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of ABBV traded up $6.91 during mid-day trading on Friday, hitting $195.93. 4,068,166 shares of the company were exchanged, compared to its average volume of 6,847,337. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The company has a 50 day moving average of $188.10 and a 200-day moving average of $190.04. The stock has a market cap of $346.09 billion, a price-to-earnings ratio of 83.40, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. During the same period last year, the business earned $2.65 earnings per share. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.3%. AbbVie's dividend payout ratio is 279.15%.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Morgan Stanley increased their price target on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday. Bank of America raised their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Guggenheim raised their price objective on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $212.81.

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.