Norden Group LLC Acquires 133,110 Shares of AbbVie Inc. (NYSE:ABBV)

Norden Group LLC lifted its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 2,055.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,587 shares of the company’s stock after acquiring an additional 133,110 shares during the period. Norden Group LLC’s holdings in AbbVie were worth $25,421,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. American National Bank boosted its stake in AbbVie by 4.8% during the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after buying an additional 2,695 shares during the last quarter. AXS Investments LLC boosted its stake in AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after buying an additional 307 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after buying an additional 165 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in AbbVie by 33.4% during the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after buying an additional 7,737 shares during the last quarter. Finally, Amplius Wealth Advisors LLC boosted its stake in AbbVie by 17.6% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after buying an additional 400 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 1.3 %

Shares of NYSE:ABBV opened at $163.84 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company has a market capitalization of $289.32 billion, a PE ratio of 48.62, a P/E/G ratio of 2.12 and a beta of 0.64. AbbVie Inc. has a 12-month low of $132.70 and a 12-month high of $182.89. The business’s fifty day simple moving average is $164.50 and its 200-day simple moving average is $167.80.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.78%. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

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AbbVie Profile

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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.

See Also

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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