AbbVie Inc. (NYSE:ABBV) Stock Holdings Boosted by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC increased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,974 shares of the company's stock after buying an additional 3,132 shares during the period. AbbVie accounts for 1.8% of Ascent Wealth Partners LLC's investment portfolio, making the stock its 10th biggest position. Ascent Wealth Partners LLC's holdings in AbbVie were worth $13,194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Verdence Capital Advisors LLC boosted its holdings in AbbVie by 3.0% in the 1st quarter. Verdence Capital Advisors LLC now owns 26,218 shares of the company's stock worth $5,493,000 after buying an additional 765 shares during the period. Mayflower Financial Advisors LLC grew its position in shares of AbbVie by 0.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 15,735 shares of the company's stock valued at $3,297,000 after purchasing an additional 83 shares in the last quarter. HTG Investment Advisors Inc. bought a new position in shares of AbbVie in the first quarter worth $204,000. Legacy Capital Wealth Partners LLC raised its position in shares of AbbVie by 3.7% in the first quarter. Legacy Capital Wealth Partners LLC now owns 4,302 shares of the company's stock worth $901,000 after buying an additional 152 shares in the last quarter. Finally, Napatree Capital LLC raised its position in shares of AbbVie by 13.9% in the first quarter. Napatree Capital LLC now owns 2,412 shares of the company's stock worth $505,000 after buying an additional 294 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

ABBV stock traded down $2.14 during trading on Friday, reaching $189.26. The company had a trading volume of 5,331,983 shares, compared to its average volume of 6,318,509. The firm has a 50-day simple moving average of $187.17 and a 200-day simple moving average of $189.38. The company has a market cap of $334.31 billion, a price-to-earnings ratio of 80.54, a price-to-earnings-growth ratio of 1.27 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66.

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 the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the previous year, the business posted $2.31 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current 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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABBV shares. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Finally, Morgan Stanley boosted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. 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 company presently has a consensus rating of "Moderate Buy" and a consensus 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.