Investment Partners LTD. Purchases 13,319 Shares of AbbVie Inc. (NYSE:ABBV)

Investment Partners LTD. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 376.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,861 shares of the company’s stock after buying an additional 13,319 shares during the period. AbbVie makes up 1.4% of Investment Partners LTD.’s holdings, making the stock its 21st biggest position. Investment Partners LTD.’s holdings in AbbVie were worth $3,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Lokken Investment Group LLC raised its stake in shares of AbbVie by 3.6% in the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares during the last quarter. Aspen Wealth Strategies LLC lifted its stake in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares during the period. Marks Group Wealth Management Inc boosted its holdings in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after acquiring an additional 63 shares during the last quarter. Avion Wealth grew its stake in shares of AbbVie by 11.9% in the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares during the period. Finally, White Pine Capital LLC raised its holdings in shares of AbbVie by 1.2% during the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV traded down $2.16 during midday trading on Thursday, reaching $168.99. The stock had a trading volume of 4,960,941 shares, compared to its average volume of 5,520,492. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The stock has a 50-day moving average of $164.41 and a 200-day moving average of $167.29. The company has a market capitalization of $298.41 billion, a price-to-earnings ratio of 50.17, a price-to-earnings-growth ratio of 2.18 and a beta of 0.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the business posted $2.46 EPS. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.67%. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Piper Sandler upped their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. BMO Capital Markets dropped their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.64.

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.