AbbVie Inc. (NYSE:ABBV) Shares Acquired by Madrona Financial Services LLC

Madrona Financial Services LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 82.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,311 shares of the company’s stock after purchasing an additional 1,501 shares during the period. Madrona Financial Services LLC’s holdings in AbbVie were worth $603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $3,229,888,000. International Assets Investment Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $499,955,000. Capital International Investors lifted its position in shares of AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after acquiring an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of AbbVie by 39.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after acquiring an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 acquiring an additional 1,702,415 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE:ABBV opened at $163.84 on Friday. AbbVie Inc. has a 1 year low of $132.70 and a 1 year high of $182.89. The firm’s fifty day simple moving average is $164.50 and its 200 day simple moving average is $167.80. 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 firm has a market capitalization of $289.32 billion, a PE ratio of 48.62, a PEG ratio of 2.12 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its earnings results 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 business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the business posted $2.46 EPS. AbbVie’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.78%. AbbVie’s dividend payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Tuesday. 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 report on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Guggenheim increased their target price 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 price target on the stock in a research note on Wednesday, June 5th. Two investment 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.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $181.07.

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.