Kendall Capital Management Has $5.78 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Kendall Capital Management cut its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,590 shares of the company's stock after selling 2,557 shares during the quarter. AbbVie accounts for 1.7% of Kendall Capital Management's portfolio, making the stock its 11th biggest holding. Kendall Capital Management's holdings in AbbVie were worth $5,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Crestline Management LP grew its stake in shares of AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP boosted its stake in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP grew its position in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after acquiring an additional 276 shares during the period. AXA S.A. raised its stake in AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC lifted its holdings in shares of AbbVie by 6.3% during the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after acquiring an additional 2,792 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. Citigroup upped 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 boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Finally, Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Trading Up 0.4%

ABBV stock traded up $0.79 during midday trading on Wednesday, reaching $190.78. The stock had a trading volume of 4,656,650 shares, compared to its average volume of 6,248,191. The business has a fifty day simple moving average of $187.12 and a two-hundred day simple moving average of $188.23. 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 twelve month low of $163.52 and a twelve month high of $218.66. The firm has a market cap of $336.99 billion, a price-to-earnings ratio of 81.18, a PEG ratio of 1.26 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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 return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 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 dividend yield of 3.44%. AbbVie's dividend payout ratio (DPR) is presently 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.