Gulf International Bank UK Ltd Purchases 711 Shares of AbbVie Inc. (NYSE:ABBV)

Gulf International Bank UK Ltd grew its position in AbbVie Inc. (NYSE:ABBV) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,103 shares of the company’s stock after buying an additional 711 shares during the period. AbbVie accounts for about 0.7% of Gulf International Bank UK Ltd’s portfolio, making the stock its 22nd largest position. Gulf International Bank UK Ltd’s holdings in AbbVie were worth $27,151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Optimum Investment Advisors grew its stake in shares of AbbVie by 2.4% during the 1st quarter. Optimum Investment Advisors now owns 14,624 shares of the company’s stock worth $2,663,000 after purchasing an additional 348 shares during the period. Meyer Handelman Co. grew its stake in shares of AbbVie by 1.3% during the 1st quarter. Meyer Handelman Co. now owns 139,683 shares of the company’s stock worth $25,436,000 after purchasing an additional 1,823 shares during the period. Tealwood Asset Management Inc. grew its stake in shares of AbbVie by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 16,685 shares of the company’s stock worth $3,038,000 after purchasing an additional 106 shares during the period. Allied Investment Advisors LLC grew its stake in shares of AbbVie by 16.8% during the 1st quarter. Allied Investment Advisors LLC now owns 1,554 shares of the company’s stock worth $283,000 after purchasing an additional 224 shares during the period. Finally, Dakota Community Bank & Trust NA grew its stake in AbbVie by 3.6% in the 1st quarter. Dakota Community Bank & Trust NA now owns 2,816 shares of the company’s stock valued at $513,000 after acquiring an additional 99 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 1.0 %

ABBV opened at $170.39 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The firm has a market cap of $300.89 billion, a P/E ratio of 50.56, a PEG ratio of 2.20 and a beta of 0.60. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The business’s fifty day simple moving average is $163.89 and its 200 day simple moving average is $166.79.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 179.47% and a net margin of 11.02%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is currently 183.98%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABBV shares. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler lifted their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, HSBC upgraded 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. Two research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.64.

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.