AbbVie Inc. (NYSE:ABBV) Shares Bought by Global Assets Advisory LLC

Global Assets Advisory LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 152.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,532 shares of the company's stock after buying an additional 6,969 shares during the quarter. Global Assets Advisory LLC's holdings in AbbVie were worth $2,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. LaFleur & Godfrey LLC boosted its position in AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in AbbVie during the fourth quarter valued at $127,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in AbbVie in the fourth quarter valued at $876,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE:ABBV traded up $1.67 during midday trading on Thursday, hitting $187.06. The company had a trading volume of 5,728,909 shares, compared to its average volume of 6,225,043. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The stock has a market cap of $330.42 billion, a price-to-earnings ratio of 79.60, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. 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 business's 50-day simple moving average is $185.74 and its 200-day simple moving average is $187.81.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business 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 company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.31 EPS. On average, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current 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 3.51%. AbbVie's dividend payout ratio (DPR) is 279.15%.

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Guggenheim upped their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Eight equities research 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.29.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

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.