Advisor Resource Council Acquires Shares of 8,846 AbbVie Inc. (NYSE:ABBV)

Advisor Resource Council bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,846 shares of the company's stock, valued at approximately $1,853,000.

A number of other institutional investors have also made changes to their positions in the business. EnRich Financial Partners LLC increased its holdings in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the fourth quarter worth approximately $32,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE:ABBV opened at $185.16 on Friday. AbbVie Inc. has a twelve month low of $163.52 and a twelve 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. The stock's 50-day simple moving average is $185.19 and its 200 day simple moving average is $187.63. The firm has a market capitalization of $327.06 billion, a PE ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS 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 analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 dividend yield of 3.54%. AbbVie's dividend payout ratio (DPR) is 279.15%.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABBV. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Bank of America upped their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Citigroup lifted their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $211.29.

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.

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