GAMMA Investing LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

GAMMA Investing LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,848 shares of the company's stock after acquiring an additional 9,395 shares during the period. AbbVie comprises about 0.8% of GAMMA Investing LLC's portfolio, making the stock its 17th largest position. GAMMA Investing LLC's holdings in AbbVie were worth $10,235,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Crestline Management LP grew its stake in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after acquiring an additional 28,753 shares during the period. Dimensional Fund Advisors LP lifted its holdings in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its holdings in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after purchasing an additional 276 shares in the last quarter. AXA S.A. raised its holdings in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares during the period. Finally, Keystone Financial Group raised its holdings in shares of AbbVie by 0.9% during the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after acquiring an additional 161 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ABBV shares. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Citigroup boosted their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Trading Up 1.9%

ABBV stock traded up $3.49 during midday trading on Monday, hitting $185.80. 6,482,354 shares of the company's stock were exchanged, compared to its average volume of 6,250,446. The stock's fifty day moving average price is $186.21 and its 200-day moving average price is $188.12. 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 market cap of $328.20 billion, a PE ratio of 79.06, a price-to-earnings-growth ratio of 1.21 and a beta of 0.50. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results 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. The business had revenue of $13.34 billion for 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%. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 earnings per share. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

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.