AbbVie Inc. (NYSE:ABBV) Shares Bought by Aaron Wealth Advisors LLC

by · The Markets Daily

Aaron Wealth Advisors LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,653 shares of the company’s stock after acquiring an additional 934 shares during the period. Aaron Wealth Advisors LLC’s holdings in AbbVie were worth $2,442,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Crestline Management LP increased its holdings in shares of AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP grew its position in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP increased its stake in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after buying an additional 276 shares during the period. AXA S.A. raised its position in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after buying an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC lifted its stake in shares of AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock worth $9,817,000 after acquiring an additional 2,792 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent analyst reports. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective for the company. Morgan Stanley raised their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Finally, BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $211.29.

Get Our Latest Stock Report on ABBV

AbbVie Stock Performance

AbbVie stock opened at $189.92 on Wednesday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The company has a market cap of $335.47 billion, a P/E ratio of 80.82, a price-to-earnings-growth ratio of 1.23 and a beta of 0.48. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm’s 50 day simple moving average is $186.85 and its 200-day simple moving average is $188.22.

AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings data 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 net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the company posted $2.31 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie’s payout ratio is 279.15%.

AbbVie Profile

(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

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