Stegent Equity Advisors Inc. Makes New $935,000 Investment in AbbVie Inc. (NYSE:ABBV)

Stegent Equity Advisors Inc. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,462 shares of the company's stock, valued at approximately $935,000.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after acquiring an additional 3,064 shares during the period. Proficio Capital Partners LLC grew its position in AbbVie by 50.8% in the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock valued at $1,177,000 after acquiring an additional 2,230 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of AbbVie by 1.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 69,595 shares of the company's stock valued at $12,367,000 after purchasing an additional 1,146 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of AbbVie by 11.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,818 shares of the company's stock valued at $1,922,000 after purchasing an additional 1,119 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.4%

Shares of ABBV stock traded down $2.68 on Friday, hitting $192.32. The stock had a trading volume of 4,990,162 shares, compared to its average volume of 6,302,947. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The firm has a market cap of $339.71 billion, a P/E ratio of 81.84, a PEG ratio of 1.29 and a beta of 0.48. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a fifty day moving average price of $187.13 and a two-hundred day moving average price of $188.90.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 yield of 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ABBV shares. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Evercore ISI boosted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Bank of America raised their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Finally, Morgan Stanley lifted their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.29.

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.