North Capital Inc. Buys Shares of 1,839 AbbVie Inc. (NYSE:ABBV)

North Capital Inc. bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,839 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds have also made changes to their positions in ABBV. Vanguard Group Inc. increased its holdings in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after buying an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after buying an additional 983,888 shares during the last quarter. Capital Research Global Investors grew its position in shares of AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after acquiring an additional 778,126 shares in the last quarter. Norges Bank acquired a new position in shares of AbbVie in the 4th quarter worth approximately $4,459,385,000. Finally, Northern Trust Corp increased its holdings in shares of AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock valued at $3,878,236,000 after acquiring an additional 2,299,645 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, Citigroup boosted their price objective on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Eight investment 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Stock Performance

Shares of ABBV stock opened at $190.78 on Thursday. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. 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 firm has a market capitalization of $336.99 billion, a price-to-earnings ratio of 81.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The business has a 50 day simple moving average of $187.12 and a 200 day simple moving average of $188.23.

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

AbbVie Dividend Announcement

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 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 yield of 3.44%. AbbVie’s dividend payout ratio is presently 279.15%.

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.