GSA Capital Partners LLP Acquires 6,050 Shares of AbbVie Inc. (NYSE:ABBV)

GSA Capital Partners LLP raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 215.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,852 shares of the company’s stock after purchasing an additional 6,050 shares during the period. GSA Capital Partners LLP’s holdings in AbbVie were worth $1,855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Abound Financial LLC purchased a new stake in shares of AbbVie during the first quarter valued at approximately $30,000. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie during the first quarter valued at approximately $35,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $36,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.0%

Shares of ABBV stock opened at $188.47 on Tuesday. The company has a market capitalization of $332.91 billion, a price-to-earnings ratio of 80.20, a PEG ratio of 1.25 and a beta of 0.48. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company’s fifty day moving average price is $187.68 and its 200-day moving average price is $189.94. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 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 revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.31 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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 given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.48%. AbbVie’s payout ratio is 279.15%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Guggenheim raised their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Eight equities 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 stock presently has a consensus rating of “Moderate Buy” and an average 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.