4,023 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Allium Financial Advisors LLC

Key Points

• Allium Financial Advisors LLC invested approximately $843,000 in AbbVie Inc. by acquiring 4,023 shares, making it the firm's 23rd largest holding.
• AbbVie recently announced a $1.64 quarterly dividend, resulting in an annualized yield of 3.45% for shareholders, with the ex-dividend date set for July 15th.
• Analysts have given AbbVie a consensus rating of "Moderate Buy" with a target price averaging $211.29, reflecting a mix of hold, buy, and strong buy ratings from multiple brokerages.

Allium Financial Advisors LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,023 shares of the company's stock, valued at approximately $843,000. AbbVie makes up 0.8% of Allium Financial Advisors LLC's investment portfolio, making the stock its 23rd largest position.

Several other institutional investors have also modified their holdings of ABBV. Brown Wealth Management LLC acquired a new stake in AbbVie in the 1st quarter valued at approximately $264,000. TD Asset Management Inc raised its position in AbbVie by 19.7% in the 1st quarter. TD Asset Management Inc now owns 3,223,375 shares of the company's stock valued at $675,362,000 after buying an additional 531,156 shares during the last quarter. HB Wealth Management LLC raised its position in AbbVie by 17.5% in the 1st quarter. HB Wealth Management LLC now owns 126,784 shares of the company's stock valued at $26,564,000 after buying an additional 18,846 shares during the last quarter. Marietta Investment Partners LLC raised its position in AbbVie by 69.9% in the 1st quarter. Marietta Investment Partners LLC now owns 44,037 shares of the company's stock valued at $9,227,000 after buying an additional 18,111 shares during the last quarter. Finally, Applied Finance Capital Management LLC raised its position in AbbVie by 12.0% in the 1st quarter. Applied Finance Capital Management LLC now owns 24,621 shares of the company's stock valued at $5,159,000 after buying an additional 2,632 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Guggenheim lifted their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup boosted their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Finally, Bank of America boosted their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Eight equities research 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's stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Stock Performance

NYSE ABBV traded up $3.68 on Tuesday, reaching $192.20. The stock had a trading volume of 2,865,193 shares, compared to its average volume of 6,829,496. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The firm has a fifty day moving average of $187.68 and a two-hundred day moving average of $189.94. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company has a market cap of $339.50 billion, a P/E ratio of 81.85, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.

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

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.41%. AbbVie's payout ratio is 279.15%.

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.