Horizon Financial Services LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 17,945.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,316 shares of the company's stock after buying an additional 6,281 shares during the period. Horizon Financial Services LLC's holdings in AbbVie were worth $1,323,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. EnRich Financial Partners LLC raised its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in shares of AbbVie in the fourth quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $32,000. Siemens Fonds Invest GmbH lifted its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in AbbVie in the 4th quarter worth approximately $36,000. 70.23% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on ABBV. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Evercore ISI increased 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, Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.29.
Get Our Latest Stock Analysis on AbbVie
AbbVie Trading Down 0.7%
AbbVie stock traded down $1.25 during mid-day trading on Thursday, reaching $189.50. 3,706,217 shares of the company traded hands, compared to its average volume of 6,248,905. 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 52-week low of $163.63 and a 52-week high of $218.66. The firm has a market capitalization of $334.73 billion, a price-to-earnings ratio of 80.64, a P/E/G ratio of 1.27 and a beta of 0.48. The firm's 50 day moving average price is $187.30 and its 200 day moving average price is $188.36.
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 the consensus estimate 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 during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The firm 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 annualized dividend and a dividend yield of 3.46%. AbbVie's payout ratio is 279.15%.
AbbVie Company Profile
(
Free Report)
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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