BluePointe Capital Management LLC Takes $298,000 Position in AbbVie Inc. (NYSE:ABBV)

BluePointe Capital Management LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 1,424 shares of the company’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $32,000. Siemens Fonds Invest GmbH raised its position in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $36,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABBV. Evercore ISI lifted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Citigroup boosted their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Bank of America boosted their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Finally, BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Eight 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 company has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Trading Down 0.5%

Shares of ABBV stock opened at $191.54 on Tuesday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. 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 50-day simple moving average of $186.92 and a two-hundred day simple moving average of $189.21. The company has a market capitalization of $338.33 billion, a price-to-earnings ratio of 81.50, a PEG ratio of 1.28 and a beta of 0.48.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the firm posted $2.31 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, July 15th. AbbVie’s payout ratio is 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.