AbbVie Inc. (NYSE:ABBV) Shares Acquired by Breakwater Capital Group

Breakwater Capital Group lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 13.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,494 shares of the company’s stock after acquiring an additional 543 shares during the quarter. Breakwater Capital Group’s holdings in AbbVie were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Lokken Investment Group LLC lifted its position in AbbVie by 3.6% during the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares during the period. Aspen Wealth Strategies LLC raised its holdings in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after purchasing an additional 61 shares during the last quarter. Marks Group Wealth Management Inc raised its holdings in AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after purchasing an additional 63 shares during the last quarter. Avion Wealth increased its stake in shares of AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after acquiring an additional 65 shares in the last quarter. Finally, White Pine Capital LLC increased its stake in shares of AbbVie by 1.2% in the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded up $2.53 during midday trading on Friday, hitting $171.52. 24,463,599 shares of the company traded hands, compared to its average volume of 5,432,583. The stock has a 50-day moving average of $164.60 and a 200-day moving average of $167.63. AbbVie Inc. has a one year low of $132.13 and a one year high of $182.89. The firm has a market cap of $302.88 billion, a P/E ratio of 50.90, a PEG ratio of 2.19 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Piper Sandler lifted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Wednesday, June 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

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.