AbbVie Inc. (NYSE:ABBV) Stock Holdings Boosted by Inscription Capital LLC

Inscription Capital LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 20.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,245 shares of the company’s stock after purchasing an additional 3,328 shares during the quarter. AbbVie comprises 1.1% of Inscription Capital LLC’s portfolio, making the stock its 20th largest holding. Inscription Capital LLC’s holdings in AbbVie were worth $3,274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after acquiring an additional 1,450,089 shares during the last quarter. Capital International Investors lifted its position in shares of AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after acquiring an additional 2,542,463 shares during the last quarter. Morgan Stanley lifted its position in shares of AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after acquiring an additional 914,485 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of AbbVie by 2.3% in the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after purchasing an additional 491,391 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Wednesday, June 5th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Thursday. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Trading Down 0.9 %

AbbVie stock opened at $170.57 on Friday. The company has a market capitalization of $301.20 billion, a price-to-earnings ratio of 50.61, a PEG ratio of 2.20 and a beta of 0.60. The company’s fifty day moving average price is $163.89 and its two-hundred day moving average price is $166.64. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

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, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $2.46 earnings per share. On average, analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.63%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.