Victrix Investment Advisors Acquires 3,068 Shares of AbbVie Inc. (NYSE:ABBV)

Victrix Investment Advisors increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 53.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,829 shares of the company's stock after acquiring an additional 3,068 shares during the period. Victrix Investment Advisors' holdings in AbbVie were worth $1,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Bell Private Wealth Management LLC grew its position in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after acquiring an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC grew its position in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its holdings in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after buying an additional 54 shares during the last quarter. Connecticut Wealth Management LLC boosted its position in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares during the period. Finally, Northstar Group Inc. grew its holdings in AbbVie by 0.7% in the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after buying an additional 58 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

AbbVie stock traded up $3.49 during trading hours on Monday, reaching $185.80. 3,808,022 shares of the stock were exchanged, compared to its average volume of 7,071,105. The stock has a 50 day moving average of $186.21 and a two-hundred day moving average of $188.12. The company has a market cap of $328.20 billion, a P/E ratio of 79.06, a price-to-earnings-growth ratio of 1.21 and a beta of 0.50. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66.

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

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. 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. According to MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price 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.