Everence Capital Management Inc. purchased a new position in AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,777 shares of the company’s stock, valued at approximately $4,305,000.
A number of other institutional investors and hedge funds have also modified their holdings of ABBV. Joseph P. Lucia & Associates LLC bought a new position in AbbVie during the fourth quarter valued at approximately $29,000. Alpha DNA Investment Management LLC bought a new position in AbbVie during the fourth quarter valued at approximately $33,000. McClarren Financial Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at approximately $38,000. JJJ Advisors Inc. raised its position in AbbVie by 260.8% during the fourth quarter. JJJ Advisors Inc. now owns 368 shares of the company’s stock valued at $39,000 after acquiring an additional 266 shares in the last quarter. Finally, Catalyst Private Wealth LLC bought a new position in AbbVie during the third quarter valued at approximately $42,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on ABBV shares. Morgan Stanley lowered their price target on AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, January 28th. SVB Leerink increased their price target on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a report on Tuesday, March 30th. Mizuho increased their price target on AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, February 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Tuesday, February 9th. Finally, Royal Bank of Canada started coverage on AbbVie in a report on Wednesday. They set a $135.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and a consensus target price of $115.65.
ABBV traded up $1.45 during trading on Thursday, reaching $106.66. 95,680 shares of the company’s stock were exchanged, compared to its average volume of 7,547,554. AbbVie Inc. has a fifty-two week low of $74.78 and a fifty-two week high of $113.41. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The business has a 50 day moving average price of $106.59 and a 200 day moving average price of $100.97. The company has a market capitalization of $188.24 billion, a P/E ratio of 22.24, a PEG ratio of 1.54 and a beta of 0.84.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Tuesday, February 2nd. The company reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.07. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. The business’s revenue was up 59.2% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 10.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.88%. AbbVie’s dividend payout ratio is currently 58.17%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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