Tealwood Asset Management Inc. Raises Position in AbbVie Inc. (NYSE:ABBV)

Tealwood Asset Management Inc. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,685 shares of the company’s stock after purchasing an additional 106 shares during the quarter. AbbVie comprises about 1.4% of Tealwood Asset Management Inc.’s portfolio, making the stock its 6th biggest position. Tealwood Asset Management Inc.’s holdings in AbbVie were worth $3,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ABBV. Lokken Investment Group LLC grew its stake in shares of AbbVie by 3.6% in the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after acquiring an additional 58 shares in the last quarter. Aspen Wealth Strategies LLC grew its stake in shares of AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares in the last quarter. Marks Group Wealth Management Inc grew its stake in shares of AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after acquiring an additional 63 shares in the last quarter. Avion Wealth grew its stake in shares of AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares in the last quarter. Finally, White Pine Capital LLC grew 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 worth $852,000 after acquiring an additional 65 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Trading Down 1.0 %

Shares of AbbVie stock opened at $170.39 on Friday. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a market cap of $300.89 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 2.20 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company’s 50-day moving average price is $163.89 and its 200-day moving average price is $166.79.

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

AbbVie Announces Dividend

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

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.