Trilogy Capital Inc. Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• Trilogy Capital Inc. increased its stake in AbbVie Inc. (NYSE:ABBV) by 39.6% during Q1, now holding 22,094 shares valued at approximately $4.63 million.
• AbbVie reported a quarterly earnings per share (EPS) of $2.46, surpassing analysts' expectations, with revenue reaching $13.34 billion, an 8.4% increase from the prior year.
• The company declared a quarterly dividend of $1.64 per share, translating to an annualized dividend yield of 3.44%, with a significant payout ratio of 279.15%.

Trilogy Capital Inc. raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 39.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,094 shares of the company's stock after acquiring an additional 6,270 shares during the period. Trilogy Capital Inc.'s holdings in AbbVie were worth $4,629,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ABBV. Brighton Jones LLC lifted its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC increased its position in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares in the last quarter. Quantbot Technologies LP increased its position in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after buying an additional 276 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in AbbVie in the fourth quarter worth about $96,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in AbbVie by 9.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,848,490 shares of the company's stock worth $516,203,000 after buying an additional 242,366 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on ABBV shares. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Evercore ISI raised their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

ABBV traded up $3.68 on Tuesday, reaching $192.20. 2,865,193 shares of the stock were exchanged, compared to its average volume of 6,829,496. The company's 50-day moving average price is $187.68 and its 200 day moving average price is $189.94. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. 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 firm has a market capitalization of $339.50 billion, a PE ratio of 81.85, a PEG ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.41%. 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.