Lindbrook Capital LLC Has $2.56 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Lindbrook Capital LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,237 shares of the company’s stock after acquiring an additional 848 shares during the quarter. Lindbrook Capital LLC’s holdings in AbbVie were worth $2,564,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Optimist Retirement Group LLC lifted its position in AbbVie by 1.0% during the first quarter. Optimist Retirement Group LLC now owns 13,448 shares of the company’s stock worth $2,818,000 after purchasing an additional 136 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of AbbVie by 2.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 276,660 shares of the company’s stock worth $57,965,000 after purchasing an additional 5,583 shares during the period. J.W. Cole Advisors Inc. increased its holdings in AbbVie by 61.2% in the 1st quarter. J.W. Cole Advisors Inc. now owns 63,378 shares of the company’s stock worth $13,279,000 after acquiring an additional 24,061 shares during the last quarter. Montag A & Associates Inc. grew its holdings in AbbVie by 7.4% during the 1st quarter. Montag A & Associates Inc. now owns 77,394 shares of the company’s stock valued at $16,216,000 after buying an additional 5,302 shares in the last quarter. Finally, Aspen Capital Management LLC purchased a new position in shares of AbbVie during the first quarter worth about $262,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV opened at $189.26 on Friday. The company’s 50-day moving average price is $187.17 and its 200 day moving average price is $189.46. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a market cap of $334.31 billion, a price-to-earnings ratio of 80.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued 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 dividend yield of 3.47%. AbbVie’s dividend payout ratio is currently 279.15%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABBV. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Bank of America lifted their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Citigroup lifted their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Finally, Guggenheim boosted their price target on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price 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.