Chicago Partners Investment Group LLC Has $8.14 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Chicago Partners Investment Group LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,842 shares of the company’s stock after buying an additional 3,952 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in AbbVie were worth $8,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Financial Services LLC lifted its position in AbbVie by 7.2% in the 1st quarter. Commonwealth Financial Services LLC now owns 6,227 shares of the company’s stock valued at $1,305,000 after acquiring an additional 419 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of AbbVie in the first quarter valued at approximately $38,050,000. Cornerstone Advisors LLC boosted its position in shares of AbbVie by 5.1% during the first quarter. Cornerstone Advisors LLC now owns 86,400 shares of the company’s stock valued at $18,103,000 after buying an additional 4,200 shares during the last quarter. Hemington Wealth Management grew its holdings in AbbVie by 7.2% during the first quarter. Hemington Wealth Management now owns 2,718 shares of the company’s stock worth $569,000 after buying an additional 182 shares in the last quarter. Finally, WealthShield Partners LLC grew its holdings in AbbVie by 8.1% during the first quarter. WealthShield Partners LLC now owns 4,964 shares of the company’s stock worth $1,040,000 after buying an additional 373 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Guggenheim boosted their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, August 1st. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Raymond James Financial lifted their target price on shares of AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Bank of America boosted their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Eight equities research 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 stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.81.

AbbVie Price Performance

NYSE:ABBV opened at $196.37 on Thursday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The stock has a fifty day moving average of $188.86 and a 200 day moving average of $190.65. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.74. The firm has a market capitalization of $346.90 billion, a price-to-earnings ratio of 93.51, a P/E/G ratio of 1.27 and a beta of 0.50.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.65 EPS. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is currently 312.38%.

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.