Novem Group Has $1.72 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Novem Group grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 24.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,192 shares of the company’s stock after purchasing an additional 1,612 shares during the period. Novem Group’s holdings in AbbVie were worth $1,716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LaFleur & Godfrey LLC boosted its stake in AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after purchasing an additional 3,108 shares during the period. Brighton Jones LLC raised its stake in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of AbbVie by 11.1% in the fourth quarter. Fisher Asset Management LLC now owns 43,233 shares of the company’s stock worth $7,683,000 after buying an additional 4,319 shares during the period. Finally, Synergy Investment Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $48,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $190.78 on Thursday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The company has a market cap of $336.99 billion, a PE ratio of 81.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The stock has a 50-day moving average of $187.12 and a 200-day moving average of $188.23. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Tuesday, July 15th. AbbVie’s payout ratio is 279.15%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Bank of America increased their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

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.