Clark Asset Management LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Clark Asset Management LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,739 shares of the company's stock, valued at approximately $364,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. EnRich Financial Partners LLC increased its holdings in AbbVie by 196.4% during 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 period. Promus Capital LLC acquired a new position in shares of AbbVie during the fourth quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH raised its holdings in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in AbbVie in the fourth quarter valued at approximately $36,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citigroup upped their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Bank of America boosted their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald began coverage on AbbVie in a 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 assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Trading Down 0.7%

Shares of ABBV traded down $1.25 on Friday, hitting $189.50. 3,706,217 shares of the stock traded hands, compared to its average volume of 6,248,905. AbbVie Inc. has a 1 year low of $163.63 and a 1 year high of $218.66. The stock's 50 day moving average is $187.30 and its two-hundred day moving average is $188.36. The firm has a market capitalization of $334.73 billion, a P/E ratio of 80.64, a P/E/G ratio of 1.27 and a beta of 0.48. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. AbbVie's dividend 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.