PFG Advisors Buys 3,972 Shares of AbbVie Inc. (NYSE:ABBV)

PFG Advisors increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,341 shares of the company's stock after purchasing an additional 3,972 shares during the quarter. PFG Advisors' holdings in AbbVie were worth $5,519,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in AbbVie during the fourth quarter valued at about $4,459,385,000. GAMMA Investing LLC raised its stake in AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after buying an additional 10,195,284 shares in the last quarter. FMR LLC raised its stake in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Franklin Resources Inc. raised its stake in AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after buying an additional 3,373,156 shares in the last quarter. Finally, Northern Trust Corp raised its stake in AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after buying an additional 2,299,645 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Guggenheim raised their price objective 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. Eight investment 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 data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Trading Down 2.4%

NYSE:ABBV opened at $184.77 on Tuesday. AbbVie Inc. has a one year low of $163.81 and a one year 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 firm has a market cap of $326.37 billion, a P/E ratio of 78.62, a P/E/G ratio of 1.25 and a beta of 0.48. The firm has a 50-day simple moving average of $187.17 and a 200-day simple moving average of $189.53.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate 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. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.55%. AbbVie's dividend payout ratio (DPR) 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.

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