Signaturefd LLC Grows Stake in AbbVie Inc. (NYSE:ABBV)

Signaturefd LLC grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,287 shares of the company's stock after acquiring an additional 5,655 shares during the quarter. Signaturefd LLC's holdings in AbbVie were worth $10,955,000 at the end of the most recent reporting period.

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

AbbVie Stock Up 2.2%

ABBV stock traded up $4.14 during mid-day trading on Wednesday, reaching $190.53. The company had a trading volume of 6,149,037 shares, compared to its average volume of 6,319,474. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a market capitalization of $336.55 billion, a price-to-earnings ratio of 81.08, a price-to-earnings-growth ratio of 1.28 and a beta of 0.48. 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 fifty day simple moving average of $186.90 and a 200 day simple moving average of $189.19.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.44%. AbbVie's payout ratio is 279.15%.

Analyst Ratings Changes

A number of analysts have recently commented on ABBV shares. Evercore ISI boosted their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Bank of America boosted their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

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.