Tectonic Advisors LLC Buys 2,386 Shares of AbbVie Inc. (NYSE:ABBV)

Tectonic Advisors LLC lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,404 shares of the company's stock after acquiring an additional 2,386 shares during the quarter. Tectonic Advisors LLC's holdings in AbbVie were worth $9,304,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC grew its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares in the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at about $30,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $32,000. Siemens Fonds Invest GmbH grew its stake 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 buying an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI boosted their target price 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. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Guggenheim increased their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley boosted their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Eight investment 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Price Performance

NYSE:ABBV traded up $4.14 during midday trading on Wednesday, hitting $190.53. The company had a trading volume of 6,202,432 shares, compared to its average volume of 6,329,532. The company has a market capitalization of $336.55 billion, a PE ratio of 81.08, a P/E/G ratio of 1.24 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 stock's fifty day moving average price is $186.95 and its 200-day moving average price is $189.20. 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 earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $2.31 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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