Quantinno Capital Management LP Buys 182,393 Shares of AbbVie Inc. $ABBV

Quantinno Capital Management LP raised its stake in AbbVie Inc. (NYSE:ABBV) by 23.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 952,090 shares of the company’s stock after buying an additional 182,393 shares during the period. AbbVie comprises 0.3% of Quantinno Capital Management LP’s holdings, making the stock its 28th biggest holding. Quantinno Capital Management LP’s holdings in AbbVie were worth $207,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Litman Gregory Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth approximately $28,000. Westend Capital Management LLC bought a new stake in AbbVie during the 4th quarter valued at $29,000. Imprint Wealth LLC raised its position in AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares in the last quarter. Legacy Wealth Managment LLC ID lifted its holdings in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after buying an additional 73 shares during the period. Finally, IFC & Insurance Marketing Inc. purchased a new stake in shares of AbbVie in the 4th quarter worth $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABBV. Piper Sandler reissued an “overweight” rating and set a $298.00 price target on shares of AbbVie in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price objective on AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Guggenheim upped their price objective on shares of AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Bank of America increased their target price on shares of AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Morgan Stanley raised their target price on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $268.10.

AbbVie Trading Down 0.9%

Shares of NYSE ABBV opened at $256.98 on Tuesday. AbbVie Inc. has a 12-month low of $187.62 and a 12-month high of $262.10. The stock’s fifty day simple moving average is $235.52 and its two-hundred day simple moving average is $223.11. The stock has a market capitalization of $454.02 billion, a PE ratio of 126.59, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. On average, equities analysts predict that AbbVie Inc. will post 14.18 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 14th. Shareholders of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. AbbVie’s payout ratio is currently 340.89%.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.