AbbVie Inc. (NYSE:ABBV) is Windle Wealth LLC’s 3rd Largest Position

Windle Wealth LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 4.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,823 shares of the company’s stock after purchasing an additional 1,801 shares during the quarter. AbbVie comprises about 4.6% of Windle Wealth LLC’s portfolio, making the stock its 3rd largest holding. Windle Wealth LLC’s holdings in AbbVie were worth $8,972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Brighton Jones LLC grew its stake in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares during the period. Summit Global Investments raised its holdings in AbbVie by 13.9% in the 4th quarter. Summit Global Investments now owns 13,265 shares of the company’s stock valued at $2,357,000 after buying an additional 1,619 shares during the period. Quantbot Technologies LP raised its holdings 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 buying an additional 276 shares during the period. Finally, Hillsdale Investment Management Inc. increased its stake in AbbVie by 9.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 2,628 shares of the company’s stock worth $467,000 after purchasing an additional 230 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

ABBV stock traded down $0.93 during trading on Monday, hitting $188.33. The stock had a trading volume of 504,130 shares, compared to its average volume of 6,304,390. The company’s 50 day moving average price is $187.17 and its two-hundred day moving average price is $189.53. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The stock has a market cap of $332.66 billion, a price-to-earnings ratio of 80.23, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $12.91 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. AbbVie’s revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.48%. AbbVie’s payout ratio is 279.15%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABBV. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. Guggenheim upped their target price 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. Evercore ISI upped their target price 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. Citigroup upped their price target on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Finally, BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.