AbbVie Inc. (NYSE:ABBV) Shares Purchased by MGO One Seven LLC

Key Points

• MGO One Seven LLC increased its holdings in AbbVie Inc. by 10.6% to a total of 27,554 shares, valued at approximately $5.77 million.
• AbbVie declared a quarterly dividend of $1.64 per share, reflecting an annualized payout of $6.56 and a yield of 3.46%.
• Analysts have a positive outlook for AbbVie, with the stock rated as a "Moderate Buy" and an average target price of $211.29.

MGO One Seven LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,554 shares of the company's stock after acquiring an additional 2,637 shares during the period. MGO One Seven LLC's holdings in AbbVie were worth $5,773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Crestline Management LP grew its stake in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after acquiring an additional 28,753 shares during the period. Narus Financial Partners LLC grew its stake in AbbVie by 25.3% in the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after acquiring an additional 401 shares during the period. Dimensional Fund Advisors LP grew 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 worth $1,664,489,000 after acquiring an additional 108,993 shares during the period. AXA S.A. grew its stake in AbbVie by 14.8% in the 4th 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 during the period. Finally, Highland Capital Management LLC grew its stake in AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $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.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday. Evercore ISI lifted their target price 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. Bank of America boosted 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. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Citigroup boosted their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. 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's stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.81.

AbbVie Stock Up 3.3%

ABBV stock traded up $6.15 during trading on Friday, reaching $195.17. The stock had a trading volume of 8,081,230 shares, compared to its average volume of 5,440,562. The company has a market capitalization of $344.75 billion, a P/E ratio of 92.94, a PEG ratio of 1.25 and a beta of 0.50. The firm has a fifty day moving average price of $188.10 and a 200 day moving average price of $190.04. 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 Inc. has a 1-year low of $163.81 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its 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). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is 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.