Hudson Edge Investment Partners Inc. Buys 2,212 Shares of AbbVie Inc. $ABBV

Hudson Edge Investment Partners Inc. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,743 shares of the company’s stock after buying an additional 2,212 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in AbbVie were worth $7,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Chelsea Counsel Co. bought a new stake in AbbVie during the 3rd quarter worth about $26,000. Litman Gregory Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $28,000. Westend Capital Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $29,000. Imprint Wealth LLC lifted its holdings in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares during the period. Finally, Texas Capital Bancshares Inc TX acquired a new position in AbbVie in the third quarter valued at approximately $31,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ABBV. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Canaccord Genuity Group raised their price target on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Morgan Stanley increased their target price on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of AbbVie in a research report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $253.81.

AbbVie Stock Performance

NYSE ABBV opened at $260.88 on Friday. The stock has a market cap of $460.92 billion, a price-to-earnings ratio of 128.51, a PEG ratio of 0.86 and a beta of 0.30. The business has a 50 day simple moving average of $220.19 and a 200 day simple moving average of $220.30. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 14.28 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.