Sovran Advisors LLC Has $737,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Sovran Advisors LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,519 shares of the company’s stock after purchasing an additional 375 shares during the quarter. Sovran Advisors LLC’s holdings in AbbVie were worth $737,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% during the fourth 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 acquired a new stake in AbbVie in the 4th quarter worth $30,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the 4th quarter worth about $32,000. Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie in the first quarter valued at about $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Bank of America upped their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

Shares of AbbVie stock opened at $181.89 on Monday. The stock has a market capitalization of $321.29 billion, a price-to-earnings ratio of 77.40, a P/E/G ratio of 1.21 and a beta of 0.50. The firm’s 50-day moving average price is $186.21 and its two-hundred day moving average price is $188.12. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. 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 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 EPS. AbbVie’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.61%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

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.