GW&K Investment Management LLC Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

GW&K Investment Management LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 26.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 396,732 shares of the company's stock after purchasing an additional 83,245 shares during the quarter. AbbVie makes up approximately 0.8% of GW&K Investment Management LLC's holdings, making the stock its 20th biggest position. GW&K Investment Management LLC's holdings in AbbVie were worth $83,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Abound Financial LLC bought a new position in shares of AbbVie during the 1st quarter valued at approximately $30,000. EnRich Financial Partners LLC boosted its holdings 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 in the last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the first quarter worth about $35,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. Evercore ISI upped 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. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Bank of America boosted their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Performance

Shares of AbbVie stock opened at $189.26 on Monday. 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 firm has a market cap of $334.31 billion, a P/E ratio of 80.54, a P/E/G ratio of 1.25 and a beta of 0.48. The firm has a 50 day simple moving average of $187.17 and a 200 day simple moving average of $189.53. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping 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 business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. The firm's quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 dividend on an annualized basis and a yield of 3.47%. AbbVie's dividend payout ratio (DPR) is currently 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.

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