Catalina Capital Group LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Catalina Capital Group LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 110.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,918 shares of the company’s stock after purchasing an additional 3,628 shares during the quarter. Catalina Capital Group LLC’s holdings in AbbVie were worth $1,260,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $26,000. IFS Advisors LLC bought a new stake in AbbVie during the 1st quarter valued at $36,000. Redmont Wealth Advisors LLC purchased a new stake in shares of AbbVie during the first quarter worth $37,000. Able Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth $33,000. Finally, Valued Wealth Advisors LLC grew its position in shares of AbbVie by 111.1% in the first quarter. Valued Wealth Advisors LLC now owns 228 shares of the company’s stock valued at $42,000 after purchasing an additional 120 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV traded up $0.09 during trading hours on Wednesday, reaching $168.14. 3,837,226 shares of the stock traded hands, compared to its average volume of 5,619,299. The company has a market capitalization of $296.91 billion, a P/E ratio of 49.84, a price-to-earnings-growth ratio of 2.26 and a beta of 0.64. The company’s 50-day simple moving average is $164.79 and its two-hundred day simple moving average is $168.27. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 52-week low of $132.70 and a 52-week high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm posted $2.46 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 10.61 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. 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 3.69%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Piper Sandler reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Tuesday, July 2nd. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Tuesday. Finally, Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.07.

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.