AbbVie Inc. (NYSE:ABBV) Stock Holdings Increased by Allworth Financial LP

Allworth Financial LP grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149,025 shares of the company's stock after purchasing an additional 5,006 shares during the quarter. Allworth Financial LP's holdings in AbbVie were worth $31,224,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares during the period. Abound Financial LLC purchased a new position in shares of AbbVie in the 1st quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $32,000. Siemens Fonds Invest GmbH raised its position in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after buying an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 1.4%

Shares of AbbVie stock traded down $2.68 during trading hours on Friday, hitting $192.32. 4,990,162 shares of the company's stock traded hands, compared to its average volume of 6,302,947. The stock has a 50 day simple moving average of $187.01 and a 200-day simple moving average of $188.98. 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 company has a market cap of $339.71 billion, a PE ratio of 81.84, a PEG ratio of 1.29 and a beta of 0.48. 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 posted its quarterly 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 business 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 for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.31 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share 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 $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Guggenheim increased their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Morgan Stanley increased their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Finally, Bank of America increased their price target on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie 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.