Hi Line Capital Management LLC Acquires 505 Shares of AbbVie Inc. (NYSE:ABBV)

Hi Line Capital Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,982 shares of the company’s stock after buying an additional 505 shares during the period. AbbVie comprises approximately 2.3% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Hi Line Capital Management LLC’s holdings in AbbVie were worth $6,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of AbbVie during the fourth quarter worth approximately $3,229,888,000. International Assets Investment Management LLC bought a new position in shares of AbbVie during the fourth quarter worth approximately $499,955,000. Capital International Investors increased its stake in shares of 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 purchasing an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of 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 purchasing an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 1,702,415 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.7 %

Shares of ABBV stock opened at $170.37 on Tuesday. The stock’s fifty day moving average price is $164.60 and its two-hundred day moving average price is $167.63. The company has a market cap of $300.85 billion, a PE ratio of 50.56, a P/E/G ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a fifty-two week low of $132.70 and a fifty-two week high of $182.89. 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 (NYSE:ABBVGet Free Report) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating 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 return on equity of 179.47% and a net margin of 11.02%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 EPS. Equities analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed 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. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent research reports. Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Piper Sandler increased their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Two investment 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

View Our Latest Analysis on ABBV

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

Featured Stories

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVFree Report).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.