AbbVie Inc. (NYSE:ABBV) Shares Acquired by L & S Advisors Inc

L & S Advisors Inc grew its holdings in AbbVie Inc. (NYSE:ABBV) by 189.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,595 shares of the company’s stock after purchasing an additional 35,048 shares during the quarter. AbbVie makes up approximately 1.4% of L & S Advisors Inc’s portfolio, making the stock its 15th largest holding. L & S Advisors Inc’s holdings in AbbVie were worth $11,229,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ABBV. Capital Research Global Investors boosted its holdings in shares of AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the last quarter. Northern Trust Corp grew its stake in AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after buying an additional 2,299,645 shares during the period. FMR LLC boosted its position in 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 period. Capital World Investors grew its stake in shares of AbbVie by 6.2% in the fourth quarter. Capital World Investors now owns 16,410,277 shares of the company’s stock valued at $2,915,990,000 after buying an additional 959,242 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AbbVie by 18.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company’s stock valued at $2,142,832,000 after acquiring an additional 1,882,780 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 3.3%

ABBV opened at $195.17 on Friday. The stock has a market cap of $344.75 billion, a P/E ratio of 92.94, a P/E/G ratio of 1.29 and a beta of 0.50. 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 Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The stock’s 50 day moving average price is $188.33 and its 200 day moving average price is $190.30.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared 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 is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.4%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. Morgan Stanley boosted their price objective on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Citigroup raised their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $212.81.

About AbbVie

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.