St. Johns Investment Management Company LLC Has $730,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

St. Johns Investment Management Company LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,008 shares of the company’s stock after purchasing an additional 624 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in AbbVie were worth $730,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ABBV. O Shaughnessy Asset Management LLC boosted its holdings in shares of AbbVie by 30.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 132,921 shares of the company’s stock worth $19,813,000 after buying an additional 31,093 shares during the period. Milestone Asset Management LLC boosted its holdings in AbbVie by 7.6% in the 3rd quarter. Milestone Asset Management LLC now owns 1,680 shares of the company’s stock valued at $249,000 after purchasing an additional 118 shares during the period. Mather Group LLC. boosted its holdings in AbbVie by 5.7% in the 3rd quarter. Mather Group LLC. now owns 37,711 shares of the company’s stock valued at $5,621,000 after purchasing an additional 2,036 shares during the period. Vinva Investment Management Ltd boosted its holdings in AbbVie by 33.5% in the 3rd quarter. Vinva Investment Management Ltd now owns 70,809 shares of the company’s stock valued at $10,781,000 after purchasing an additional 17,752 shares during the period. Finally, Truvestments Capital LLC boosted its holdings in AbbVie by 4.4% in the 3rd quarter. Truvestments Capital LLC now owns 11,727 shares of the company’s stock valued at $1,748,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ABBV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Piper Sandler increased 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. 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. BMO Capital Markets reduced their price objective 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. Finally, Barclays reduced their price objective 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. Two investment 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 data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Price Performance

NYSE ABBV opened at $171.15 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a market capitalization of $302.23 billion, a PE ratio of 50.79, a price-to-earnings-growth ratio of 2.18 and a beta of 0.60. The firm’s 50 day moving average is $164.27 and its 200-day moving average is $167.26.

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

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.62%. AbbVie’s payout ratio is 183.98%.

AbbVie 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.