First Interstate Bank Increases Position in AbbVie Inc. (NYSE:ABBV)

First Interstate Bank increased its stake in AbbVie Inc. (NYSE:ABBV) by 1.3% in the first quarter, HoldingsChannel.com reports. The firm owned 7,820 shares of the company’s stock after acquiring an additional 99 shares during the quarter. First Interstate Bank’s holdings in AbbVie were worth $1,638,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Crestline Management LP grew its stake in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after acquiring an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after acquiring an additional 108,993 shares during the last quarter. Quantbot Technologies LP grew its stake in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after acquiring an additional 276 shares during the last quarter. AXA S.A. grew its stake in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after acquiring an additional 125,568 shares during the last quarter. Finally, Highland Capital Management LLC grew its stake in AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after acquiring an additional 2,792 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ABBV shares. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Guggenheim raised their price target on shares of 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 research note on Thursday, May 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Finally, 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 note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Trading Down 0.1%

NYSE ABBV traded down $0.26 during mid-day trading on Wednesday, hitting $189.51. The company’s stock had a trading volume of 503,504 shares, compared to its average volume of 6,261,367. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The stock’s fifty day simple moving average is $187.19 and its two-hundred day simple moving average is $188.77. 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 $334.75 billion, a P/E ratio of 80.56, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

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

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. AbbVie’s dividend payout ratio is currently 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.