Burke & Herbert Bank & Trust Co. Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Burke & Herbert Bank & Trust Co. lifted its stake in AbbVie Inc. (NYSE:ABBV) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,987 shares of the company’s stock after purchasing an additional 1,300 shares during the quarter. AbbVie accounts for approximately 1.1% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 19th biggest position. Burke & Herbert Bank & Trust Co.’s holdings in AbbVie were worth $4,607,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC purchased a new position in AbbVie in the 4th quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie in the 4th quarter worth about $32,000. Pinney & Scofield Inc. purchased a new position in AbbVie in the 4th quarter worth about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in AbbVie in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Bank of America boosted their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. BNP Paribas raised AbbVie to a “hold” rating in a research report on Thursday, May 8th. Morgan Stanley boosted their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Trading Down 0.7%

AbbVie stock opened at $189.50 on Friday. AbbVie Inc. has a 12-month low of $163.63 and a 12-month high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $334.73 billion, a price-to-earnings ratio of 80.64, a P/E/G ratio of 1.26 and a beta of 0.48. The firm has a 50 day moving average of $187.37 and a 200 day moving average of $188.46.

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

AbbVie Announces Dividend

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

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.