Diversified Trust Co Has $9.89 Million Stake in AbbVie Inc. (NYSE:ABBV)

Diversified Trust Co grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 12.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,224 shares of the company’s stock after buying an additional 5,354 shares during the period. Diversified Trust Co’s holdings in AbbVie were worth $9,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ABBV. Norges Bank acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $4,459,385,000. GAMMA Investing LLC increased its stake in AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in AbbVie in the fourth quarter worth $1,190,951,000. FMR LLC boosted its position in shares of AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.9%

Shares of ABBV stock opened at $187.06 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The firm’s fifty day moving average price is $186.03 and its two-hundred day moving average price is $187.88. The firm has a market capitalization of $330.42 billion, a P/E ratio of 79.60, a PEG ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.51%. AbbVie’s dividend payout ratio is 279.15%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ABBV shares. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

About AbbVie

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.