AbbVie Inc. (NYSE:ABBV) Shares Purchased by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.7% in the first quarter, HoldingsChannel.com reports. The firm owned 19,693 shares of the company’s stock after buying an additional 136 shares during the quarter. Lee Danner & Bass Inc.’s holdings in AbbVie were worth $4,126,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the period. Geode Capital Management LLC boosted its holdings in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after acquiring an additional 983,888 shares during the period. Capital Research Global Investors boosted its holdings in shares of AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after acquiring an additional 778,126 shares during the period. Norges Bank acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $4,459,385,000. Finally, Northern Trust Corp boosted its holdings in shares of AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock valued at $3,878,236,000 after acquiring an additional 2,299,645 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Down 0.7%

NYSE:ABBV opened at $189.50 on Friday. The company has a market capitalization of $334.73 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The stock has a fifty day simple moving average of $187.37 and a 200-day simple moving average of $188.56.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the business posted $2.31 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is 279.15%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Bank of America increased their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Guggenheim increased their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Finally, Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

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.