Burling Wealth Partners LLC Acquires 4,172 Shares of AbbVie Inc. (NYSE:ABBV)

Burling Wealth Partners LLC increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,078 shares of the company's stock after buying an additional 4,172 shares during the quarter. AbbVie comprises approximately 1.9% of Burling Wealth Partners LLC's holdings, making the stock its 12th largest position. Burling Wealth Partners LLC's holdings in AbbVie were worth $9,235,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of AbbVie by 50.8% during the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock valued at $1,177,000 after purchasing an additional 2,230 shares during the last quarter. Horizon Investments LLC lifted its holdings in shares of AbbVie by 3.0% during the fourth quarter. Horizon Investments LLC now owns 21,161 shares of the company's stock valued at $3,725,000 after purchasing an additional 617 shares during the last quarter. Finally, Enhancing Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at $355,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Down 1.1%

Shares of NYSE ABBV traded down $2.14 during mid-day trading on Friday, reaching $189.26. 5,331,983 shares of the company traded hands, compared to its average volume of 6,317,072. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The stock has a market cap of $334.31 billion, a PE ratio of 80.54, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The company's fifty day moving average is $187.07 and its two-hundred day moving average is $189.30. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is 279.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Bank of America upped their target price on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Citigroup upped their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Guggenheim upped their price target on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. 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 company. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price 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.