Hoxton Planning & Management LLC Purchases New Position in AbbVie Inc. (NYSE:ABBV)

Key Points

• Hoxton Planning & Management LLC acquired 2,129 shares of AbbVie Inc., valued at approximately $446,000, during the first quarter, highlighting growing investor interest in the company.
• AbbVie recently announced a quarterly dividend of $1.64 per share, representing a yield of 3.46%, with a significant dividend payout ratio of 279.15%.
• Wall Street analysts have mixed views on AbbVie, with an average rating of "Moderate Buy," and target prices ranging from $194.00 to $250.00, indicating potential for growth.

Hoxton Planning & Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,129 shares of the company's stock, valued at approximately $446,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Steel Grove Capital Advisors LLC raised its position in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after buying an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its position in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after buying an additional 54 shares during the last quarter. Private Management Group Inc. raised its position in shares of AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after buying an additional 54 shares during the last quarter. Connecticut Wealth Management LLC raised its position in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after buying an additional 57 shares during the last quarter. Finally, Castle Wealth Management LLC raised its position in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after buying an additional 57 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Up 3.3%

Shares of NYSE ABBV traded up $6.15 during midday trading on Friday, hitting $195.17. The company's stock had a trading volume of 8,081,230 shares, compared to its average volume of 5,440,562. The business's fifty day simple moving average is $188.10 and its two-hundred day simple moving average is $190.04. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The firm has a market capitalization of $344.75 billion, a price-to-earnings ratio of 92.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. During the same period in the previous year, the business posted $2.65 EPS. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Raymond James Financial increased their target price on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a research report on Friday. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. 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 objective for the company. Eight 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $212.81.

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.