AbbVie Inc. (NYSE:ABBV) Shares Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its position in AbbVie Inc. (NYSE:ABBV) by 5.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,860 shares of the company’s stock after acquiring an additional 341 shares during the quarter. E Fund Management Co. Ltd.’s holdings in AbbVie were worth $924,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABBV. Kalos Management Inc. purchased a new position in AbbVie in the first quarter worth $26,000. Miller Wealth Advisors LLC raised its position in AbbVie by 140.0% in the second quarter. Miller Wealth Advisors LLC now owns 240 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in AbbVie in the second quarter worth $39,000. True Wealth Design LLC acquired a new stake in AbbVie in the fourth quarter valued at $39,000. Finally, PrairieView Partners LLC grew its holdings in AbbVie by 346.7% in the second quarter. PrairieView Partners LLC now owns 335 shares of the company’s stock valued at $45,000 after purchasing an additional 260 shares during the last quarter. 67.86% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of ABBV traded up $0.34 during mid-day trading on Tuesday, hitting $138.65. The stock had a trading volume of 2,018,800 shares, compared to its average volume of 5,508,064. The company has a market cap of $244.79 billion, a PE ratio of 37.89, a PEG ratio of 2.45 and a beta of 0.51. The company’s fifty day simple moving average is $146.37 and its two-hundred day simple moving average is $143.88. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 4.59. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $168.11.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.86 by $0.09. AbbVie had a return on equity of 152.70% and a net margin of 11.81%. The company had revenue of $13.93 billion during the quarter, compared to analyst estimates of $13.72 billion. During the same quarter last year, the firm earned $3.66 EPS. The business’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 11.24 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.47%. This is a positive change from AbbVie’s previous quarterly dividend of $1.48. AbbVie’s payout ratio is currently 169.86%.

Analyst Ratings Changes

A number of analysts recently commented on ABBV shares. Barclays raised AbbVie from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $160.00 to $170.00 in a research note on Monday, October 30th. Piper Sandler Companies increased their price objective on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. William Blair began coverage on AbbVie in a research note on Tuesday, July 25th. They issued a “market perform” rating on the stock. Morgan Stanley raised their price objective on AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on AbbVie in a report on Thursday, November 9th. They issued a “hold” rating and a $150.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.69.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.