&Partners Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

&Partners grew its holdings in AbbVie Inc. (NYSE:ABBV) by 79.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,788 shares of the company’s stock after acquiring an additional 6,544 shares during the period. &Partners’ holdings in AbbVie were worth $2,693,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $26,000. Able Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth $33,000. IFS Advisors LLC acquired a new position in AbbVie during the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. acquired a new position in AbbVie during the fourth quarter worth $37,000. Finally, Clarity Asset Management Inc. acquired a new position in AbbVie during the fourth quarter worth $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 1.0 %

Shares of ABBV opened at $170.39 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The firm has a 50-day moving average price of $163.89 and a 200 day moving average price of $166.93. The firm has a market capitalization of $300.89 billion, a P/E ratio of 50.56, a P/E/G ratio of 2.20 and a beta of 0.60.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. Piper Sandler upped their price objective on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Barclays reduced their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Thursday. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

About AbbVie

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.