Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $12.66 Million Position in AbbVie Inc. (NYSE:ABBV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,399 shares of the company's stock after purchasing an additional 1,394 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in AbbVie were worth $12,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Victrix Investment Advisors grew its stake in shares of AbbVie by 53.3% during the first quarter. Victrix Investment Advisors now owns 8,829 shares of the company's stock worth $1,829,000 after buying an additional 3,068 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of AbbVie by 12.8% during the 1st quarter. Diversified Trust Co now owns 47,224 shares of the company's stock valued at $9,894,000 after acquiring an additional 5,354 shares in the last quarter. Hidden Cove Wealth Management LLC bought a new stake in AbbVie during the 1st quarter worth $281,000. Beacon Financial Advisory LLC increased its holdings in AbbVie by 0.7% in the 1st quarter. Beacon Financial Advisory LLC now owns 8,767 shares of the company's stock worth $1,837,000 after purchasing an additional 63 shares in the last quarter. Finally, Board of the Pension Protection Fund increased its holdings in AbbVie by 72.0% in the 1st quarter. Board of the Pension Protection Fund now owns 4,300 shares of the company's stock worth $901,000 after purchasing an additional 1,800 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

AbbVie Trading Up 0.9%

Shares of ABBV stock opened at $187.06 on Friday. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The stock has a 50 day simple moving average of $186.03 and a two-hundred day simple moving average of $187.88. The company has a market cap of $330.42 billion, a P/E ratio of 79.60, a PEG ratio of 1.23 and a beta of 0.50.

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 the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. Research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.51%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wells Fargo & Company boosted their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley raised their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average price target of $211.29.

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.

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