Stonebrook Private Inc. Acquires 278 Shares of AbbVie Inc. (NYSE:ABBV)

Stonebrook Private Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,550 shares of the company’s stock after acquiring an additional 278 shares during the period. Stonebrook Private Inc.’s holdings in AbbVie were worth $744,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ABBV. Rock Point Advisors LLC bought a new position in AbbVie in the 1st quarter valued at $230,000. CFO4Life Group LLC raised its stake in AbbVie by 3.6% during the 1st quarter. CFO4Life Group LLC now owns 3,311 shares of the company’s stock worth $694,000 after buying an additional 114 shares during the period. tru Independence LLC raised its stake in AbbVie by 4.4% during the 1st quarter. tru Independence LLC now owns 19,107 shares of the company’s stock worth $4,003,000 after buying an additional 799 shares during the period. Heritage Wealth Management Inc. CA acquired a new stake in shares of AbbVie in the 1st quarter valued at about $258,000. Finally, Rogco LP raised its stake in shares of AbbVie by 1.1% in the 1st quarter. Rogco LP now owns 7,836 shares of the company’s stock valued at $1,642,000 after purchasing an additional 89 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ABBV. Citigroup lifted their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Morgan Stanley raised their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Finally, Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Stock Performance

Shares of ABBV opened at $190.74 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $336.92 billion, a P/E ratio of 81.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.48. The firm’s fifty day simple moving average is $187.10 and its two-hundred day simple moving average is $188.78. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 earnings per share. As a group, analysts predict that AbbVie Inc. will post 12.31 EPS for the current 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 given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.44%. 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.