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

Oppenheimer & Co. Inc. lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 152,607 shares of the company’s stock after buying an additional 2,738 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in AbbVie were worth $31,974,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ABBV. EnRich Financial Partners LLC boosted its holdings in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new position in shares of AbbVie in the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter valued at $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the 4th quarter valued at $32,000. Finally, Siemens Fonds Invest GmbH increased its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $185.16 on Monday. The business has a 50 day moving average price of $185.19 and a two-hundred day moving average price of $187.78. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The company has a market capitalization of $327.06 billion, a price-to-earnings ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.31 earnings per share. Research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.54%. AbbVie’s payout ratio is 279.15%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ABBV shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Bank of America lifted their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.08% of the company’s stock.

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.