Potentia Wealth Makes New $214,000 Investment in AbbVie Inc. (NYSE:ABBV)

Potentia Wealth bought a new stake in AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,023 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares in the last quarter. Northern Trust Corp grew its position in AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after acquiring an additional 2,299,645 shares during the last quarter. Deutsche Bank AG grew its position in AbbVie by 27.4% during the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company’s stock worth $1,735,969,000 after acquiring an additional 2,102,273 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AbbVie by 18.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company’s stock valued at $2,142,832,000 after purchasing an additional 1,882,780 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Finally, Wall Street Zen cut 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 given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $212.81.

AbbVie Stock Performance

Shares of ABBV stock opened at $196.37 on Thursday. The firm has a market cap of $346.90 billion, a PE ratio of 93.51, a P/E/G ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company’s fifty day simple moving average is $188.86 and its 200-day simple moving average is $190.65. The company has a quick ratio of 0.64, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during 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%. AbbVie’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. 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 dividend payout ratio is presently 312.38%.

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.