Saturna Capital Corp Buys 40,521 Shares of AbbVie Inc. (NYSE:ABBV)

Saturna Capital Corp raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 717,186 shares of the company's stock after buying an additional 40,521 shares during the quarter. AbbVie comprises approximately 2.2% of Saturna Capital Corp's holdings, making the stock its 14th largest position. Saturna Capital Corp's holdings in AbbVie were worth $150,265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Abound Financial LLC purchased a new position in shares of AbbVie in the 1st quarter valued at $30,000. EnRich Financial Partners LLC grew its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $32,000. Pinney & Scofield Inc. acquired a new stake in AbbVie during the 4th quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in AbbVie during the 1st quarter valued at approximately $42,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock traded down $2.14 during trading hours on Friday, hitting $189.26. The stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,318,509. 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 stock has a market capitalization of $334.31 billion, a price-to-earnings ratio of 80.54, a PEG ratio of 1.27 and a beta of 0.48. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The stock's fifty day moving average is $187.17 and its two-hundred day moving average is $189.38.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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 company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the company posted $2.31 EPS. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced 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 of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.47%. AbbVie's dividend payout ratio is currently 279.15%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Evercore ISI raised their price objective 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. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie 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.