AbbVie Inc. $ABBV Shares Purchased by Bogart Wealth LLC

Bogart Wealth LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 887.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 42,392 shares of the company’s stock after purchasing an additional 38,099 shares during the period. Bogart Wealth LLC’s holdings in AbbVie were worth $9,220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of AbbVie by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. State Street Corp increased its stake in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after acquiring an additional 1,119,274 shares during the period. Geode Capital Management LLC raised its holdings in shares of AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. Bank of America Corp DE lifted its position in AbbVie by 1.4% during the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after purchasing an additional 356,394 shares during the period. Finally, Norges Bank acquired a new position in AbbVie during the fourth quarter valued at $5,865,055,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $249.00 price target on shares of AbbVie in a report on Friday, May 1st. Evercore set a $235.00 price objective on AbbVie in a research note on Friday, May 15th. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Thursday, April 30th. Wells Fargo & Company set a $260.00 target price on AbbVie in a research note on Monday, June 22nd. Finally, Morgan Stanley raised their target price on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.81.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $260.88 on Monday. The company has a market capitalization of $460.92 billion, a PE ratio of 128.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. The company’s fifty day moving average price is $220.19 and its 200 day moving average price is $220.25. AbbVie Inc. has a 1 year low of $184.63 and a 1 year high of $261.64.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is currently 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.