Lincoln Capital Corp Has $289,000 Position in AbbVie Inc. (NYSE:ABBV)

Lincoln Capital Corp lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,585 shares of the company’s stock after buying an additional 110 shares during the period. Lincoln Capital Corp’s holdings in AbbVie were worth $289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ABBV. Van Lanschot Kempen Investment Management N.V. boosted its position in shares of AbbVie by 1,053.0% during the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 22,091 shares of the company’s stock worth $3,293,000 after buying an additional 20,175 shares during the period. Morningstar Investment Services LLC boosted its position in shares of AbbVie by 78.7% during the third quarter. Morningstar Investment Services LLC now owns 5,078 shares of the company’s stock worth $773,000 after buying an additional 2,236 shares during the period. Ancora Advisors LLC boosted its position in AbbVie by 2.0% during the third quarter. Ancora Advisors LLC now owns 327,437 shares of the company’s stock valued at $48,808,000 after purchasing an additional 6,432 shares during the last quarter. Ironwood Investment Counsel LLC boosted its position in AbbVie by 68.2% during the third quarter. Ironwood Investment Counsel LLC now owns 10,653 shares of the company’s stock valued at $1,588,000 after purchasing an additional 4,320 shares during the last quarter. Finally, Caxton Associates LP boosted its position in AbbVie by 1.6% during the third quarter. Caxton Associates LP now owns 17,532 shares of the company’s stock valued at $2,613,000 after purchasing an additional 276 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ABBV. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Piper Sandler boosted their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Price Performance

AbbVie stock traded down $2.16 during trading hours on Thursday, reaching $168.99. 4,960,941 shares of the stock were exchanged, compared to its average volume of 5,520,492. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a market cap of $298.41 billion, a P/E ratio of 50.17, a price-to-earnings-growth ratio of 2.18 and a beta of 0.60. The stock has a 50 day moving average of $164.41 and a two-hundred day moving average of $167.29.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. Equities analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.67%. AbbVie’s dividend payout ratio is 183.98%.

About AbbVie

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.