Jackson Creek Investment Advisors LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Jackson Creek Investment Advisors LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,282 shares of the company's stock, valued at approximately $688,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steel Grove Capital Advisors LLC raised its position in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its position in AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after buying an additional 54 shares during the last quarter. Connecticut Wealth Management LLC raised its position in AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares during the last quarter. Castle Wealth Management LLC raised its position in AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after buying an additional 57 shares during the last quarter. Finally, Northstar Group Inc. raised its position in AbbVie by 0.7% during the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Finally, Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Trading Down 1.1%

AbbVie stock traded down $2.14 during mid-day trading on Friday, hitting $189.26. The stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,326,641. The stock has a 50-day simple moving average of $187.17 and a two-hundred day simple moving average of $189.38. The stock has a market capitalization of $334.31 billion, a PE ratio of 80.54, a P/E/G ratio of 1.25 and a beta of 0.48. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

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. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter last year, the business earned $2.31 earnings per share. The company's revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

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.