Jacobs & Co. CA Has $11.14 Million Position in AbbVie Inc. (NYSE:ABBV)

Jacobs & Co. CA lowered its stake in AbbVie Inc. (NYSE:ABBV) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,196 shares of the company’s stock after selling 1,737 shares during the period. Jacobs & Co. CA’s holdings in AbbVie were worth $11,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strong Tower Advisory Services grew its holdings in AbbVie by 13.9% during the 1st quarter. Strong Tower Advisory Services now owns 6,436 shares of the company’s stock worth $1,163,000 after acquiring an additional 783 shares during the period. Austin Private Wealth LLC grew its holdings in AbbVie by 6.6% during the 1st quarter. Austin Private Wealth LLC now owns 4,005 shares of the company’s stock worth $710,000 after acquiring an additional 248 shares during the period. Strategic Planning Group LLC grew its holdings in AbbVie by 14.2% during the 1st quarter. Strategic Planning Group LLC now owns 24,788 shares of the company’s stock worth $4,514,000 after acquiring an additional 3,080 shares during the period. Kaydan Wealth Management Inc. acquired a new stake in AbbVie during the 1st quarter worth $207,000. Finally, Capital Planning LLC grew its holdings in AbbVie by 18.1% during the 1st quarter. Capital Planning LLC now owns 6,084 shares of the company’s stock worth $1,108,000 after acquiring an additional 934 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.2 %

ABBV opened at $170.75 on Wednesday. The stock has a market capitalization of $301.52 billion, a P/E ratio of 50.67, a P/E/G ratio of 2.18 and a beta of 0.60. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The firm’s fifty day simple moving average is $164.27 and its 200 day simple moving average is $167.26. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.63%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Barclays decreased their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Piper Sandler boosted their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Company Profile

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.