AbbVie Inc. (NYSE:ABBV) Stake Increased by Abacus Wealth Partners LLC

Key Points

• Abacus Wealth Partners LLC increased its holdings in AbbVie Inc. by 205.7% during the 1st quarter, owning a total of 4,907 shares valued at approximately $1,028,000.
• AbbVie has declared a quarterly dividend of $1.64 per share, with a current annualized payout representing a 3.46% dividend yield.
• AbbVie stock currently holds a market capitalization of $335.03 billion, with analysts rating it as a “Moderate Buy” and setting a consensus target price of $211.29.

Abacus Wealth Partners LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 205.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,907 shares of the company's stock after purchasing an additional 3,302 shares during the quarter. AbbVie comprises 0.2% of Abacus Wealth Partners LLC's investment portfolio, making the stock its 26th largest holding. Abacus Wealth Partners LLC's holdings in AbbVie were worth $1,028,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Abound Financial LLC acquired a new stake in AbbVie in the 1st quarter valued at about $30,000. EnRich Financial Partners LLC boosted its stake in shares of 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 last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the 1st quarter worth about $35,000. Pinney & Scofield Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth about $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie during the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 3.3%

Shares of ABBV traded up $6.15 during mid-day trading on Friday, reaching $195.17. 8,081,230 shares of the stock traded hands, compared to its average volume of 5,440,562. The firm 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 stock has a fifty day simple moving average of $188.10 and a 200 day simple moving average of $190.04. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. 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 issued 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). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The firm's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared 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 dividend yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ABBV shares. Bank of America raised their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $212.81.

About AbbVie

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.