Trust Investment Advisors purchased a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,661 shares of the company's stock, valued at approximately $558,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in ABBV. Steel Grove Capital Advisors LLC lifted its stake in shares of AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC lifted its stake in shares of AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after purchasing an additional 54 shares during the period. Connecticut Wealth Management LLC lifted its stake in shares of AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares during the period. Castle Wealth Management LLC lifted its stake in shares of AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after purchasing an additional 57 shares during the period. Finally, Northstar Group Inc. lifted its stake in shares of AbbVie by 0.7% in the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock valued at $1,783,000 after purchasing an additional 58 shares during the period. Institutional investors own 70.23% of the company's stock.
AbbVie Stock Up 0.4%
Shares of NYSE:ABBV traded up $0.68 during midday trading on Thursday, reaching $191.26. The company had a trading volume of 4,805,506 shares, compared to its average volume of 6,991,581. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The business's 50 day moving average price is $186.95 and its 200 day moving average price is $189.20. The stock has a market cap of $337.83 billion, a PE ratio of 81.39, a P/E/G ratio of 1.24 and a beta of 0.48. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66.
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 business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.
Analyst Upgrades and Downgrades
Several analysts recently commented on ABBV shares. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Wall Street Zen lowered shares of 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 given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.
Read Our Latest Research Report on ABBV
AbbVie Company Profile
(
Free Report)
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.
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