Hi Line Capital Management LLC Acquires 505 Shares of AbbVie Inc. (NYSE:ABBV)

Hi Line Capital Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,982 shares of the company’s stock after buying an additional 505 shares during the period. AbbVie comprises approximately 2.3% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Hi Line Capital Management LLC’s holdings in AbbVie were worth $6,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of AbbVie during the fourth quarter worth approximately $3,229,888,000. International Assets Investment Management LLC bought a new position in shares of AbbVie during the fourth quarter worth approximately $499,955,000. Capital International Investors increased its stake in shares of AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after purchasing an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after purchasing an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.7 %

Shares of ABBV stock opened at $170.37 on Tuesday. The stock’s fifty day moving average price is $164.60 and its two-hundred day moving average price is $167.63. The company has a market cap of $300.85 billion, a PE ratio of 50.56, a P/E/G ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a fifty-two week low of $132.70 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm 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 company’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 EPS. Equities analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent research reports. Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Piper Sandler increased their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Two investment 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie 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.