Trifecta Capital Advisors LLC Boosts Position in AbbVie Inc. (NYSE:ABBV)

Trifecta Capital Advisors LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 1,158.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,765 shares of the company’s stock after buying an additional 26,480 shares during the quarter. AbbVie accounts for approximately 1.3% of Trifecta Capital Advisors LLC’s holdings, making the stock its 22nd biggest holding. Trifecta Capital Advisors LLC’s holdings in AbbVie were worth $5,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Morningstar Investment Services LLC lifted its position in shares of AbbVie by 78.7% in the third quarter. Morningstar Investment Services LLC now owns 5,078 shares of the company’s stock valued at $773,000 after acquiring an additional 2,236 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in AbbVie by 195.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock valued at $729,000 after purchasing an additional 3,235 shares in the last quarter. Waverly Advisors LLC lifted its holdings in AbbVie by 12.0% in the 3rd quarter. Waverly Advisors LLC now owns 29,538 shares of the company’s stock valued at $4,403,000 after purchasing an additional 3,170 shares in the last quarter. United Services Automobile Association boosted its stake in shares of AbbVie by 5.0% during the 3rd quarter. United Services Automobile Association now owns 290,439 shares of the company’s stock worth $43,293,000 after purchasing an additional 13,800 shares during the last quarter. Finally, First Business Financial Services Inc. grew its holdings in shares of AbbVie by 0.7% during the third quarter. First Business Financial Services Inc. now owns 13,717 shares of the company’s stock worth $2,045,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ABBV shares. Barclays reduced their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. 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. BMO Capital Markets decreased their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Trading Up 1.5 %

Shares of ABBV stock opened at $171.52 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. AbbVie Inc. has a fifty-two week low of $132.13 and a fifty-two week high of $182.89. The firm’s 50 day moving average price is $164.60 and its two-hundred day moving average price is $167.54. The stock has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60.

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

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is 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.