IFM Investors Pty Ltd Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

IFM Investors Pty Ltd grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 9.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360,544 shares of the company's stock after purchasing an additional 29,681 shares during the period. AbbVie makes up 0.7% of IFM Investors Pty Ltd's investment portfolio, making the stock its 22nd largest holding. IFM Investors Pty Ltd's holdings in AbbVie were worth $71,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of ABBV. Silver Oak Securities Incorporated lifted its position in AbbVie by 1.1% during the 1st quarter. Silver Oak Securities Incorporated now owns 6,184 shares of the company's stock valued at $1,270,000 after acquiring an additional 69 shares during the period. Calamos Advisors LLC lifted its position in AbbVie by 13.2% during the 1st quarter. Calamos Advisors LLC now owns 501,761 shares of the company's stock valued at $105,129,000 after acquiring an additional 58,470 shares during the period. Aviance Capital Partners LLC lifted its position in AbbVie by 0.3% during the 1st quarter. Aviance Capital Partners LLC now owns 143,303 shares of the company's stock valued at $30,025,000 after acquiring an additional 387 shares during the period. Moody Aldrich Partners LLC lifted its position in AbbVie by 3.4% during the 1st quarter. Moody Aldrich Partners LLC now owns 3,103 shares of the company's stock valued at $650,000 after acquiring an additional 103 shares during the period. Finally, MBA Advisors LLC lifted its position in AbbVie by 1.7% during the 1st quarter. MBA Advisors LLC now owns 5,840 shares of the company's stock valued at $1,224,000 after acquiring an additional 96 shares during the period. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

AbbVie stock traded down $1.25 during mid-day trading on Friday, reaching $189.50. 3,706,217 shares of the company's stock traded hands, compared to its average volume of 6,248,905. The company has a market cap of $334.73 billion, a price-to-earnings ratio of 80.64, a PEG ratio of 1.26 and a beta of 0.48. The stock has a 50 day moving average of $187.37 and a two-hundred day moving average of $188.46. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.63 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly 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. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. AbbVie's revenue was up 8.4% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ABBV shares. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Guggenheim lifted their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $211.29.

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.