Phoenix Financial Ltd. Has $5.37 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• Phoenix Financial Ltd. increased its holdings in AbbVie Inc. by 13.2% during the 1st quarter, owning 25,584 shares valued at approximately $5.4 million.
• Several institutional investors have recently purchased shares of AbbVie, with 70.23% of the stock now owned by these parties.
• AbbVie announced a quarterly dividend of $1.64 per share, representing an annualized yield of 3.44% for investors on record as of July 15th.

Phoenix Financial Ltd. increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,584 shares of the company's stock after purchasing an additional 2,976 shares during the period. Phoenix Financial Ltd.'s holdings in AbbVie were worth $5,372,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC increased its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Abound Financial LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $32,000. Siemens Fonds Invest GmbH boosted its holdings in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the 1st quarter valued at $35,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Guggenheim lifted their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Eight research 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. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Stock Up 1.6%

Shares of ABBV traded up $3.07 during midday trading on Tuesday, hitting $191.59. The company had a trading volume of 3,104,345 shares, compared to its average volume of 6,830,808. The company's 50 day moving average price is $187.68 and its 200 day moving average price is $189.94. The stock has a market cap of $338.43 billion, a price-to-earnings ratio of 81.47, a PEG ratio of 1.25 and a beta of 0.48. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. 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 (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. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $2.31 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

About AbbVie

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.