Arkadios Wealth Advisors Increases Stake in AbbVie Inc. (NYSE:ABBV)

Key Points

• Arkadios Wealth Advisors increased its stake in AbbVie Inc. by 12.3% in Q1, now holding 38,045 shares, valued at approximately $7.97 million.
• Several large investors have also significantly increased their holdings in AbbVie, with hedge funds and institutions owning 70.23% of the stock.
• AbbVie announced a quarterly dividend of $1.64 per share, representing an annualized dividend yield of 3.43%, with a pay date set for August 15th.

Arkadios Wealth Advisors lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,045 shares of the company's stock after purchasing an additional 4,179 shares during the period. Arkadios Wealth Advisors' holdings in AbbVie were worth $7,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Brighton Jones LLC increased its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of AbbVie by 42.7% in the 4th quarter. Wellington Management Group LLP now owns 2,236,648 shares of the company's stock worth $397,452,000 after acquiring an additional 669,493 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in shares of AbbVie by 0.6% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,662 shares of the company's stock worth $4,738,000 after acquiring an additional 167 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of AbbVie by 15.0% in the 4th quarter. National Bank of Canada FI now owns 1,431,817 shares of the company's stock worth $254,394,000 after acquiring an additional 187,271 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ABBV. Citigroup increased their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Raymond James Financial lifted their price target on shares of AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $212.81.

AbbVie Price Performance

Shares of ABBV stock traded up $6.15 on Friday, hitting $195.17. 8,081,230 shares of the stock traded hands, compared to its average volume of 6,877,075. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The firm has a 50 day simple moving average of $188.10 and a two-hundred day simple moving average of $190.04. The firm has a market cap of $344.75 billion, a price-to-earnings ratio of 83.05, a PEG ratio of 1.25 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business earned $2.65 earnings per share. AbbVie's revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.4%. AbbVie's dividend payout ratio is currently 279.15%.

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.