Focused Wealth Management Inc boosted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 33.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,656 shares of the company's stock after purchasing an additional 1,905 shares during the period. Focused Wealth Management Inc's holdings in AbbVie were worth $1,604,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Abound Financial LLC bought a new stake in shares of AbbVie during the 1st quarter valued at about $30,000. EnRich Financial Partners LLC boosted 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 purchasing an additional 110 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at about $32,000. Pinney & Scofield Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie during the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.
Analyst Upgrades and Downgrades
ABBV has been the topic of several recent research reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald started coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Bank of America increased their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, Citigroup increased their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $211.29.
Read Our Latest Stock Report on AbbVie
AbbVie Trading Down 1.4%
NYSE ABBV traded down $2.68 during trading on Friday, hitting $192.32. The stock had a trading volume of 4,990,162 shares, compared to its average volume of 6,302,947. The stock has a market capitalization of $339.71 billion, a price-to-earnings ratio of 81.84, a P/E/G ratio of 1.29 and a beta of 0.48. The stock has a 50 day simple moving average of $187.01 and a 200 day simple moving average of $188.98. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data 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 company 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%. AbbVie's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $2.31 earnings per share. Sell-side analysts predict 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 paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.41%. AbbVie's payout ratio is currently 279.15%.
About AbbVie
(
Free Report)
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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