Graypoint LLC Acquires 1,659 Shares of AbbVie Inc. (NYSE:ABBV)

Graypoint LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,932 shares of the company's stock after purchasing an additional 1,659 shares during the quarter. Graypoint LLC's holdings in AbbVie were worth $3,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abound Financial LLC bought a new position in AbbVie during the first quarter valued at approximately $30,000. EnRich Financial Partners LLC lifted its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the period. Prudent Man Investment Management Inc. purchased a new position in AbbVie during the fourth quarter valued at $32,000. Pinney & Scofield Inc. purchased a new position in AbbVie during the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie during the first quarter valued at $42,000. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

ABBV stock traded down $2.14 during trading on Friday, reaching $189.26. 5,331,983 shares of the company were exchanged, compared to its average volume of 6,318,509. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The company has a 50-day moving average of $187.17 and a two-hundred day moving average of $189.38. The company has a market capitalization of $334.31 billion, a price-to-earnings ratio of 80.54, a P/E/G ratio of 1.27 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.31 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. Evercore ISI boosted their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Morgan Stanley lifted their price objective on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. 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 stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price 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.