Lincoln Capital Corp Increases Stake in AbbVie Inc. (NYSE:ABBV)

Lincoln Capital Corp raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,585 shares of the company’s stock after buying an additional 110 shares during the quarter. Lincoln Capital Corp’s holdings in AbbVie were worth $289,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ABBV. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of AbbVie by 1,053.0% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 22,091 shares of the company’s stock worth $3,293,000 after acquiring an additional 20,175 shares during the last quarter. Morningstar Investment Services LLC grew its position in AbbVie by 78.7% in the 3rd quarter. Morningstar Investment Services LLC now owns 5,078 shares of the company’s stock valued at $773,000 after acquiring an additional 2,236 shares in the last quarter. Ancora Advisors LLC increased its stake in AbbVie by 2.0% during the third quarter. Ancora Advisors LLC now owns 327,437 shares of the company’s stock worth $48,808,000 after purchasing an additional 6,432 shares during the period. Ironwood Investment Counsel LLC lifted its position in shares of AbbVie by 68.2% during the third quarter. Ironwood Investment Counsel LLC now owns 10,653 shares of the company’s stock worth $1,588,000 after purchasing an additional 4,320 shares in the last quarter. Finally, Caxton Associates LP boosted its stake in shares of AbbVie by 1.6% in the third quarter. Caxton Associates LP now owns 17,532 shares of the company’s stock valued at $2,613,000 after purchasing an additional 276 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 1.3 %

AbbVie stock traded down $2.16 during trading on Thursday, hitting $168.99. The company’s stock had a trading volume of 4,960,941 shares, compared to its average volume of 5,520,492. The stock’s fifty day moving average is $164.41 and its 200 day moving average is $167.29. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The stock has a market capitalization of $298.41 billion, a price-to-earnings ratio of 50.17, a P/E/G ratio of 2.18 and a beta of 0.60. 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:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.67%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. Guggenheim boosted 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. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Piper Sandler increased their price objective on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, BMO Capital Markets dropped their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

About AbbVie

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.