Diversify Wealth Management LLC Has $5.60 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Diversify Wealth Management LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 12.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 28,934 shares of the company's stock after buying an additional 3,299 shares during the period. Diversify Wealth Management LLC's holdings in AbbVie were worth $5,599,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares during the last quarter. Proficio Capital Partners LLC grew its stake in AbbVie by 50.8% during the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock worth $1,177,000 after buying an additional 2,230 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in AbbVie by 1.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 69,595 shares of the company's stock worth $12,367,000 after buying an additional 1,146 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in AbbVie by 11.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,818 shares of the company's stock worth $1,922,000 after buying an additional 1,119 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Down 1.4%

Shares of NYSE:ABBV traded down $2.68 during midday trading on Friday, reaching $192.32. 4,990,162 shares of the company were exchanged, compared to its average volume of 6,302,947. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. 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 stock has a fifty day simple moving average of $187.13 and a two-hundred day simple moving average of $188.90. The firm has a market cap of $339.71 billion, a PE ratio of 81.84, a P/E/G ratio of 1.29 and a beta of 0.48.

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

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ABBV shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight investment 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. According to MarketBeat.com, 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.