Boyd Watterson Asset Management LLC OH Has $5.51 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Boyd Watterson Asset Management LLC OH lifted its position in AbbVie Inc. (NYSE:ABBV) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,309 shares of the company’s stock after acquiring an additional 425 shares during the period. AbbVie makes up approximately 1.8% of Boyd Watterson Asset Management LLC OH’s holdings, making the stock its 16th biggest holding. Boyd Watterson Asset Management LLC OH’s holdings in AbbVie were worth $5,512,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Abound Financial LLC bought a new position in shares of AbbVie during the 1st quarter worth approximately $30,000. EnRich Financial Partners LLC grew its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the 1st quarter worth approximately $35,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $32,000. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ABBV shares. Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Evercore ISI raised their target price 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. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Finally, Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Eight 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Stock Up 1.2%

Shares of NYSE ABBV opened at $187.10 on Wednesday. The company has a market cap of $330.49 billion, a price-to-earnings ratio of 79.62, a PEG ratio of 1.22 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 Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The stock has a 50-day moving average price of $187.17 and a two-hundred day moving average price of $189.53.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.51%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

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.