AbbVie Inc. (NYSE:ABBV) Shares Bought by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,706 shares of the company's stock after purchasing an additional 2,037 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in AbbVie were worth $15,862,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. EnRich Financial Partners LLC lifted its position in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Abound Financial LLC purchased a new position in AbbVie during the first quarter valued at approximately $30,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH increased its stake in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in shares of AbbVie during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Morgan Stanley lifted their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Bank of America upped their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Stock Up 0.2%

Shares of ABBV stock traded up $0.30 during mid-day trading on Thursday, hitting $190.85. The stock had a trading volume of 3,457,672 shares, compared to its average volume of 6,574,834. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. 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's 50-day moving average is $187.31 and its two-hundred day moving average is $189.55. The firm has a market capitalization of $337.12 billion, a P/E ratio of 81.21, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48.

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

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, July 15th. 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.