Momentous Wealth Management Inc. Invests $280,000 in AbbVie Inc. (NYSE:ABBV)

Key Points

• Momentous Wealth Management Inc. has invested $280,000 in AbbVie Inc., acquiring 1,338 shares, which constitutes 0.2% of their total portfolio.
• AbbVie has received mixed ratings from analysts, with the stock labeled a "Moderate Buy" and a consensus price target of $212.81.
• The company announced a quarterly dividend of $1.64, translating to an annualized payout of $6.56 with a dividend yield of 3.4%.

Momentous Wealth Management Inc. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,338 shares of the company's stock, valued at approximately $280,000. AbbVie makes up 0.2% of Momentous Wealth Management Inc.'s portfolio, making the stock its 29th biggest position.

Other hedge funds 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 acquiring an additional 110 shares in the last quarter. Abound Financial LLC bought a new position in shares of AbbVie in the 1st quarter worth about $30,000. Siemens Fonds Invest GmbH raised its position in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares in the last quarter. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the 1st quarter worth about $35,000. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Raymond James Financial lifted their price objective on AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research report on Friday. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Guggenheim boosted their target price on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday. Finally, Citigroup boosted their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $212.81.

AbbVie Stock Up 3.3%

ABBV stock traded up $6.15 during mid-day trading on Friday, reaching $195.17. 8,081,230 shares of the company traded hands, compared to its average volume of 5,440,562. The stock has a market cap of $344.75 billion, a price-to-earnings ratio of 92.94, a P/E/G ratio of 1.25 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm's 50 day moving average price is $188.33 and its 200 day moving average price is $190.17.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the firm posted $2.65 EPS. AbbVie's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 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.