AbbVie Inc. (NYSE:ABBV) Position Boosted by Meeder Advisory Services Inc.

Key Points

• Meeder Advisory Services Inc. has increased its holdings in AbbVie Inc. by 11.2% in Q1, now owning 43,359 shares worth approximately $9.09 million.
• AbbVie reported earnings of $2.46 per share for the last quarter, surpassing analyst expectations of $2.40 and achieving revenue of $13.34 billion.
• The company declared a quarterly dividend of $1.64, with an expected annual yield of 3.48% and a high dividend payout ratio of 279.15%.

Meeder Advisory Services Inc. boosted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,359 shares of the company's stock after buying an additional 4,375 shares during the period. Meeder Advisory Services Inc.'s holdings in AbbVie were worth $9,085,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABBV. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of AbbVie in the first quarter valued at approximately $30,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie in the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH grew its position in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the period. Finally, Cypress Capital Management LLC WY purchased a new position in AbbVie in the first quarter worth approximately $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of ABBV stock traded up $7.49 during midday trading on Friday, reaching $196.51. 4,310,638 shares of the company traded hands, compared to its average volume of 6,850,190. The firm's 50 day simple moving average is $188.10 and its two-hundred day simple moving average is $190.04. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The firm has a market cap of $347.12 billion, a PE ratio of 83.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. AbbVie's revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.

Analyst Ratings Changes

ABBV has been the subject of several analyst reports. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Evercore ISI increased their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Raymond James Financial upped their price target on AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday. Citigroup upped their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Finally, Guggenheim upped their price target on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $212.81.

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.