1,054 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by TCP Asset Management LLC

TCP Asset Management LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,054 shares of the company’s stock, valued at approximately $221,000.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley raised their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target on the stock. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Evercore ISI increased their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

ABBV stock opened at $189.92 on Wednesday. The stock has a 50-day moving average price of $186.85 and a two-hundred day moving average price of $188.22. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The stock has a market cap of $335.47 billion, a PE ratio of 80.82, a price-to-earnings-growth ratio of 1.23 and a beta of 0.48. 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 posted its quarterly earnings data 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 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 period in the prior year, the firm earned $2.31 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 279.15%.

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.