Signet Financial Management LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Signet Financial Management LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,664 shares of the company’s stock after buying an additional 128 shares during the period. AbbVie makes up about 1.1% of Signet Financial Management LLC’s holdings, making the stock its 21st biggest position. Signet Financial Management LLC’s holdings in AbbVie were worth $7,769,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Tower Research Capital LLC TRC boosted its position in shares of AbbVie by 123.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 73,322 shares of the company’s stock worth $10,929,000 after purchasing an additional 40,548 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its position in shares of AbbVie by 1,053.0% during the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 22,091 shares of the company’s stock worth $3,293,000 after purchasing an additional 20,175 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of AbbVie by 78.7% during the 3rd quarter. Morningstar Investment Services LLC now owns 5,078 shares of the company’s stock worth $773,000 after purchasing an additional 2,236 shares in the last quarter. Cape Cod Five Cents Savings Bank boosted its position in shares of AbbVie by 96.0% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 36,106 shares of the company’s stock worth $5,382,000 after buying an additional 17,681 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its position in shares of AbbVie by 3.0% in the 3rd quarter. CWA Asset Management Group LLC now owns 26,921 shares of the company’s stock worth $4,013,000 after buying an additional 792 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

AbbVie stock opened at $168.99 on Friday. The stock has a market cap of $298.41 billion, a P/E ratio of 50.15, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a 50 day moving average of $164.41 and a 200-day moving average of $167.29. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. On average, analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Ratings Changes

ABBV has been the topic of several recent research reports. Guggenheim boosted 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. Piper Sandler boosted 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. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

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.