Embree Financial Group Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Embree Financial Group boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the first quarter, Holdings Channel reports. The institutional investor owned 19,688 shares of the company’s stock after acquiring an additional 167 shares during the period. Embree Financial Group’s holdings in AbbVie were worth $4,125,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. LaFleur & Godfrey LLC increased its position in shares of AbbVie by 4.1% during the fourth 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 in the last quarter. Brighton Jones LLC increased its position in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Forvis Mazars Wealth Advisors LLC increased its position in shares of AbbVie by 1.4% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 17,267 shares of the company’s stock worth $3,068,000 after purchasing an additional 230 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of AbbVie during the fourth quarter worth $127,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $183.92 on Tuesday. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $324.88 billion, a PE ratio of 78.26, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The stock’s 50-day moving average price is $185.28 and its 200-day moving average price is $187.84.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm 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 earned $2.31 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABBV. Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Citigroup upped their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Guggenheim upped their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. BNP Paribas raised AbbVie to a “hold” rating in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average 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.