Hudson Edge Investment Partners Inc. Has $7.12 Million Holdings in AbbVie Inc. $ABBV

Hudson Edge Investment Partners Inc. increased its position in AbbVie Inc. (NYSE:ABBV) by 7.2% during the first quarter, Holdings Channel reports. The firm owned 32,743 shares of the company’s stock after buying an additional 2,212 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in AbbVie were worth $7,121,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Procyon Advisors LLC increased its holdings in shares of AbbVie by 19.9% during the fourth quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after purchasing an additional 5,427 shares during the period. Calamos Advisors LLC raised its holdings in AbbVie by 3.4% in the 4th quarter. Calamos Advisors LLC now owns 466,290 shares of the company’s stock valued at $106,543,000 after acquiring an additional 15,458 shares in the last quarter. Waycross Partners LLC lifted its position in shares of AbbVie by 2.9% during the 4th quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock valued at $41,694,000 after acquiring an additional 5,063 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of AbbVie by 11.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 636,710 shares of the company’s stock valued at $143,026,000 after acquiring an additional 66,720 shares during the period. Finally, Savvy Advisors Inc. increased its position in shares of AbbVie by 22.2% in the fourth quarter. Savvy Advisors Inc. now owns 36,568 shares of the company’s stock worth $8,355,000 after purchasing an additional 6,646 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $260.88 on Friday. The firm has a 50 day moving average price of $220.19 and a two-hundred day moving average price of $220.30. The stock has a market cap of $460.92 billion, a P/E ratio of 128.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. AbbVie Inc. has a 52-week low of $184.63 and a 52-week high of $261.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 earnings per share. Analysts predict that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio is currently 340.89%.

Analysts Set New Price Targets

Several research firms have commented on ABBV. Canaccord Genuity Group raised their target price on shares of AbbVie from $265.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. William Blair reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Morgan Stanley lifted their price target on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company set a $260.00 target price on AbbVie in a research report on Monday, June 22nd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $253.81.

AbbVie Company 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.