Richard Bernstein Advisors LLC Has $6.85 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Richard Bernstein Advisors LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,707 shares of the company's stock after selling 1,519 shares during the quarter. Richard Bernstein Advisors LLC's holdings in AbbVie were worth $6,853,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ABBV. EnRich Financial Partners LLC increased its position in 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 buying an additional 110 shares during the period. Prudent Man Investment Management Inc. bought a new position in AbbVie during the 4th quarter worth $32,000. Pinney & Scofield Inc. bought a new position in AbbVie during the 4th quarter worth $36,000. Inlight Wealth Management LLC bought a new position in AbbVie during the 1st quarter worth $42,000. Finally, HWG Holdings LP bought a new position in AbbVie during the 1st quarter worth $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ABBV. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen cut 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. Bank of America raised their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Eight equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Price Performance

AbbVie stock traded up $1.97 during midday trading on Tuesday, reaching $189.60. The company's stock had a trading volume of 5,523,941 shares, compared to its average volume of 6,283,616. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The business has a 50-day moving average price of $187.27 and a 200-day moving average price of $188.76. The stock has a market cap of $334.91 billion, a PE ratio of 80.68, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the business posted $2.31 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's 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.