Earned Wealth Advisors LLC Has $626,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• Earned Wealth Advisors LLC increased its holdings in AbbVie Inc. by 123.0% during the first quarter, now owning shares worth $626,000.
• AbbVie reported $2.97 earnings per share for the recent quarter, falling short of the consensus estimate of $3.24, despite revenue exceeding expectations at $15.42 billion.
• The company announced a quarterly dividend of $1.64 per share, representing an annualized yield of 3.4% and highlighting a dividend payout ratio of 279.15%.

Earned Wealth Advisors LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 123.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,986 shares of the company's stock after buying an additional 1,647 shares during the quarter. Earned Wealth Advisors LLC's holdings in AbbVie were worth $626,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Steel Grove Capital Advisors LLC raised its holdings in AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after acquiring an additional 52 shares during the period. Peninsula Wealth LLC raised its holdings in AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after acquiring an additional 54 shares during the period. Private Management Group Inc. raised its holdings in AbbVie by 1.9% during the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after acquiring an additional 54 shares during the period. Connecticut Wealth Management LLC raised its holdings in AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after acquiring an additional 57 shares during the period. Finally, Castle Wealth Management LLC raised its holdings in AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

NYSE ABBV opened at $195.17 on Friday. The company has a 50-day simple moving average of $188.33 and a two-hundred day simple moving average of $190.30. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The firm has a market cap of $344.75 billion, a price-to-earnings ratio of 92.94, a PEG ratio of 1.29 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.65 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Raymond James Financial boosted their target price on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a report on Friday. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Citigroup upped their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. 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 has an average rating of "Moderate Buy" and a consensus price target of $212.81.

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.

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