Astoria Portfolio Advisors LLC. Has $1.14 Million Stake in AbbVie Inc. (NYSE:ABBV)

Astoria Portfolio Advisors LLC. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,265 shares of the company’s stock after buying an additional 70 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in AbbVie were worth $1,141,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ABBV. Norges Bank acquired a new stake in AbbVie during the fourth quarter worth approximately $3,229,888,000. International Assets Investment Management LLC acquired a new stake in AbbVie during the fourth quarter worth approximately $499,955,000. Capital International Investors grew its position in AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after buying an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. Piper Sandler upped their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. Two investment 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 data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Stock Up 1.5 %

Shares of ABBV opened at $171.52 on Friday. The stock has a market capitalization of $302.88 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.16 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a 52 week low of $132.13 and a 52 week high of $182.89. The stock has a fifty day moving average of $164.60 and a 200-day moving average of $167.54.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during 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%. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned $2.46 EPS. As a group, sell-side analysts anticipate 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 given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

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.