Xponance Inc. Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

Xponance Inc. raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,471 shares of the company's stock after acquiring an additional 4,597 shares during the period. AbbVie makes up approximately 0.7% of Xponance Inc.'s holdings, making the stock its 19th biggest holding. Xponance Inc.'s holdings in AbbVie were worth $71,964,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Brighton Jones LLC increased its position in shares of 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 acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of AbbVie by 72.7% in the fourth 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 period. Proficio Capital Partners LLC lifted its holdings in shares of AbbVie by 50.8% during the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock worth $1,177,000 after purchasing an additional 2,230 shares during the period. Sequoia Financial Advisors LLC boosted its position in AbbVie by 1.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 69,595 shares of the company's stock valued at $12,367,000 after buying an additional 1,146 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in AbbVie by 11.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,818 shares of the company's stock worth $1,922,000 after buying an additional 1,119 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 2.3%

Shares of NYSE ABBV opened at $194.96 on Friday. The stock has a market cap of $344.38 billion, a PE ratio of 82.96, a P/E/G ratio of 1.29 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 Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The company has a 50-day moving average of $187.13 and a 200 day moving average of $188.90.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the business earned $2.31 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.36%. AbbVie's dividend payout ratio is presently 279.15%.

Analyst Ratings Changes

Several research firms have recently commented on ABBV. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Eight 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

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.

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