Drum Hill Capital LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Drum Hill Capital LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,127 shares of the company’s stock, valued at approximately $236,000.

Other large investors also recently added to or reduced their stakes in the company. Crestline Management LP raised its position in AbbVie by 438.4% during the 4th 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 last quarter. Dimensional Fund Advisors LP increased its stake in shares of AbbVie by 1.2% during the fourth 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 during the period. Quantbot Technologies LP raised its holdings in shares of AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after acquiring an additional 276 shares in the last quarter. AXA S.A. lifted its stake in AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after acquiring an additional 125,568 shares during the period. Finally, Highland Capital Management LLC boosted its holdings in AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after acquiring an additional 2,792 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $190.78 on Thursday. The company has a market cap of $336.99 billion, a price-to-earnings ratio of 81.18, a P/E/G ratio of 1.26 and a beta of 0.48. The business’s fifty day simple moving average is $187.12 and its two-hundred day simple moving average is $188.23. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. 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 (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period last year, the firm posted $2.31 earnings per share. AbbVie’s revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.44%. AbbVie’s dividend payout ratio is presently 279.15%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ABBV shares. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Bank of America raised their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

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.