AbbVie Inc. (NYSE:ABBV) Shares Bought by Narus Financial Partners LLC

Narus Financial Partners LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.6% during the first quarter, Holdings Channel reports. The fund owned 1,999 shares of the company’s stock after purchasing an additional 124 shares during the quarter. Narus Financial Partners LLC’s holdings in AbbVie were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Norges Bank purchased a new position in shares of AbbVie during the 4th quarter worth $3,229,888,000. International Assets Investment Management LLC acquired a new position in AbbVie in the fourth quarter valued at $499,955,000. Capital International Investors lifted its position in AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in AbbVie by 39.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after buying an additional 2,390,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABBV shares. BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Wednesday, June 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $181.07.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $165.97 on Wednesday. The business’s 50-day simple moving average is $164.65 and its 200 day simple moving average is $167.74. The company has a market cap of $293.08 billion, a P/E ratio of 49.25, a PEG ratio of 2.19 and a beta of 0.64. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a one year low of $132.70 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping 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 business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.74%. AbbVie’s dividend payout ratio is presently 183.98%.

AbbVie 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.