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

Quantinno Capital Management LP raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 23.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 952,090 shares of the company’s stock after buying an additional 182,393 shares during the quarter. AbbVie comprises 0.3% of Quantinno Capital Management LP’s portfolio, making the stock its 28th biggest holding. Quantinno Capital Management LP owned approximately 0.05% of AbbVie worth $207,070,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Litman Gregory Wealth Management LLC bought a new stake in AbbVie in the fourth quarter worth $28,000. Imprint Wealth LLC lifted its position in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after purchasing an additional 45 shares during the last quarter. Westend Capital Management LLC bought a new position in AbbVie during the fourth quarter valued at $29,000. IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $31,000. Finally, Legacy Wealth Managment LLC ID grew its stake 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 in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.9%

Shares of ABBV opened at $256.98 on Tuesday. AbbVie Inc. has a twelve month low of $187.62 and a twelve month high of $262.10. The company has a market cap of $454.02 billion, a P/E ratio of 126.59, a P/E/G ratio of 0.86 and a beta of 0.30. The company’s fifty day simple moving average is $235.52 and its 200-day simple moving average is $223.11.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (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 net margin of 5.79% and a negative return on equity of 576.45%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business earned $2.46 EPS. Analysts predict that AbbVie Inc. will post 14.18 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is 340.89%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Evercore set a $235.00 target price on shares of AbbVie in a research report on Friday, May 15th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 5th. Morgan Stanley lifted their price target on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Canaccord Genuity Group boosted their price objective on AbbVie from $273.00 to $282.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, BMO Capital Markets upped their price objective on AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.10.

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.