Miller Howard Investments Inc. NY Has $84.88 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Miller Howard Investments Inc. NY decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 405,119 shares of the company’s stock after selling 4,034 shares during the quarter. AbbVie makes up approximately 2.7% of Miller Howard Investments Inc. NY’s holdings, making the stock its 5th largest holding. Miller Howard Investments Inc. NY’s holdings in AbbVie were worth $84,880,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% during 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 acquired a new position in AbbVie in the fourth quarter valued at about $30,000. Prudent Man Investment Management Inc. bought a new position in AbbVie during the fourth quarter worth about $32,000. Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $42,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $189.88 on Wednesday. The firm has a market capitalization of $335.40 billion, a P/E ratio of 80.99, a price-to-earnings-growth ratio of 1.23 and a beta of 0.48. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The firm’s fifty day moving average price is $186.85 and its two-hundred day moving average price is $188.22. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the business earned $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given 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 3.45%. AbbVie’s payout ratio is 279.15%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABBV shares. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

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.