Integrated Advisors Network LLC Boosts Stake in AbbVie Inc. $ABBV

Integrated Advisors Network LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 30.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,509 shares of the company’s stock after acquiring an additional 11,057 shares during the period. Integrated Advisors Network LLC’s holdings in AbbVie were worth $10,333,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Chelsea Counsel Co. bought a new position in AbbVie in the third quarter worth about $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at about $28,000. Westend Capital Management LLC bought a new stake in shares of AbbVie in the 4th quarter valued at about $29,000. Imprint Wealth LLC boosted its holdings in shares of AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX purchased a new position in shares of AbbVie in the 3rd quarter worth approximately $31,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABBV. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price for the company in a research note on Thursday, April 30th. Guggenheim reaffirmed a “buy” rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, HSBC reaffirmed a “buy” rating and set a $300.00 target price on shares of AbbVie in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

AbbVie Stock Up 1.2%

Shares of ABBV opened at $257.88 on Tuesday. The company has a market capitalization of $455.62 billion, a price-to-earnings ratio of 127.03, a PEG ratio of 0.86 and a beta of 0.30. The stock’s 50-day moving average price is $221.27 and its 200-day moving average price is $220.47. AbbVie Inc. has a 52 week low of $184.63 and a 52 week high of $261.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter last year, the business earned $2.46 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 14.28 EPS for the current fiscal year.

AbbVie Announces Dividend

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

AbbVie Company Profile

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.