Trifecta Capital Advisors LLC Buys 26,480 Shares of AbbVie Inc. (NYSE:ABBV)

Trifecta Capital Advisors LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 1,158.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,765 shares of the company’s stock after acquiring an additional 26,480 shares during the period. AbbVie accounts for about 1.3% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Trifecta Capital Advisors LLC’s holdings in AbbVie were worth $5,238,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Morningstar Investment Services LLC lifted its position in AbbVie by 78.7% during the 3rd quarter. Morningstar Investment Services LLC now owns 5,078 shares of the company’s stock worth $773,000 after acquiring an additional 2,236 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of AbbVie by 195.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock worth $729,000 after purchasing an additional 3,235 shares during the last quarter. Waverly Advisors LLC grew its holdings in AbbVie by 12.0% in the 3rd quarter. Waverly Advisors LLC now owns 29,538 shares of the company’s stock valued at $4,403,000 after buying an additional 3,170 shares during the last quarter. United Services Automobile Association increased its position in AbbVie by 5.0% in the 3rd quarter. United Services Automobile Association now owns 290,439 shares of the company’s stock worth $43,293,000 after buying an additional 13,800 shares during the period. Finally, First Business Financial Services Inc. boosted its position in shares of AbbVie by 0.7% in the third quarter. First Business Financial Services Inc. now owns 13,717 shares of the company’s stock valued at $2,045,000 after acquiring an additional 89 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.5 %

ABBV opened at $171.52 on Friday. The firm has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.16 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm’s 50-day simple moving average is $164.60 and its 200-day simple moving average is $167.54. AbbVie Inc. has a twelve month low of $132.13 and a twelve month high of $182.89.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.61%. AbbVie’s payout ratio is 183.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Piper Sandler lifted their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.