Ring Mountain Capital LLC Purchases 67 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Ring Mountain Capital LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,871 shares of the company’s stock after purchasing an additional 67 shares during the period. Ring Mountain Capital LLC’s holdings in AbbVie were worth $392,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. EnRich Financial Partners LLC raised 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 purchasing an additional 110 shares during the last quarter. Abound Financial LLC bought a new position in shares of AbbVie in the first quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH boosted its position in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie in the fourth quarter worth approximately $36,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.5%

ABBV opened at $190.50 on Friday. The stock’s fifty day moving average is $187.07 and its 200-day moving average is $189.30. The company has a market capitalization of $336.50 billion, a PE ratio of 81.06, a P/E/G ratio of 1.26 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 Inc. has a one year low of $163.81 and a one year high of $218.66.

AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the firm posted $2.31 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.44%. AbbVie’s payout ratio is 279.15%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Read Our Latest Research Report on ABBV

About AbbVie

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).