World Investment Advisors increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,248 shares of the company's stock after acquiring an additional 1,753 shares during the quarter. World Investment Advisors' holdings in AbbVie were worth $13,880,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Brighton Jones LLC boosted its holdings in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in AbbVie by 50.8% in the 4th quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock valued at $1,177,000 after purchasing an additional 2,230 shares during the last quarter. Promus Capital LLC acquired a new position in AbbVie in the 4th quarter valued at about $30,000. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in AbbVie by 13.5% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 21,100 shares of the company's stock valued at $3,750,000 after purchasing an additional 2,505 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Stock Down 0.7%
ABBV traded down $1.25 during trading hours on Friday, hitting $189.50. 3,706,217 shares of the company's stock were exchanged, compared to its average volume of 6,249,990. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The firm has a 50 day moving average of $187.37 and a 200 day moving average of $188.68. The firm has a market cap of $334.73 billion, a P/E ratio of 80.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. 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 (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the firm earned $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The company 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Citigroup upped their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.
View Our Latest Analysis on AbbVie
About AbbVie
(
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.
Featured Articles
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
