AbbVie Inc. (NYSE:ABBV) Shares Acquired by Obermeyer Wealth Partners

Obermeyer Wealth Partners boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,809 shares of the company’s stock after buying an additional 617 shares during the quarter. Obermeyer Wealth Partners’ holdings in AbbVie were worth $4,988,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in AbbVie in the 4th quarter worth approximately $4,459,385,000. GAMMA Investing LLC grew its stake in AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after acquiring an additional 10,195,284 shares during the period. FMR LLC increased its stake in shares of AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares during the last quarter. Franklin Resources Inc. lifted its position in AbbVie by 24.3% during the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after purchasing an additional 3,373,156 shares during the period. Finally, Northern Trust Corp grew its holdings in AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after acquiring an additional 2,299,645 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 2.4%

Shares of ABBV opened at $184.77 on Tuesday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The stock has a market capitalization of $326.37 billion, a price-to-earnings ratio of 78.62, a PEG 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. The stock has a fifty day moving average of $187.17 and a 200-day moving average of $189.53.

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

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.55%. AbbVie’s payout ratio is 279.15%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABBV. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Guggenheim lifted their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Evercore ISI boosted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.