Elyxium Wealth LLC Buys 2,071 Shares of AbbVie Inc. (NYSE:ABBV)

Elyxium Wealth LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 91.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,338 shares of the company's stock after buying an additional 2,071 shares during the period. Elyxium Wealth LLC's holdings in AbbVie were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ABBV. EnRich Financial Partners LLC increased its position in 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 acquired a new position in shares of AbbVie in the first quarter valued at about $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at about $32,000. Siemens Fonds Invest GmbH increased its holdings 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 valued at $32,000 after purchasing an additional 119,141 shares during the period. Finally, Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the first quarter valued at about $35,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Down 1.1%

ABBV opened at $189.26 on Friday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The stock has a market capitalization of $334.31 billion, a price-to-earnings ratio of 80.54, a PEG ratio of 1.25 and a beta of 0.48. 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 business has a fifty day moving average price of $187.17 and a 200 day moving average price of $189.46.

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

AbbVie Announces Dividend

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

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. Bank of America raised their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Morgan Stanley raised their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI raised their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Citigroup raised their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Eight equities research 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, the company has an average rating of "Moderate Buy" and an average target price of $211.29.

About AbbVie

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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