Bryn Mawr Capital Management LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Bryn Mawr Capital Management LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,883 shares of the company’s stock after buying an additional 729 shares during the period. Bryn Mawr Capital Management LLC’s holdings in AbbVie were worth $1,652,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 1,424,237 shares during the period. Geode Capital Management LLC lifted its stake in shares of AbbVie by 2.7% in the fourth 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 in the last quarter. Capital Research Global Investors raised its stake in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the period. Norges Bank purchased a new position in AbbVie during the fourth quarter worth about $4,459,385,000. Finally, Northern Trust Corp raised its stake in AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after purchasing an additional 2,299,645 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Stock Performance

Shares of ABBV opened at $186.56 on Wednesday. The company has a 50-day simple moving average of $186.90 and a 200-day simple moving average of $189.19. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $329.53 billion, a PE ratio of 79.39, a P/E/G ratio of 1.28 and a beta of 0.48. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.52%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

About AbbVie

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.