FWG Holdings LLC Invests $376,000 in AbbVie Inc. (NYSE:ABBV)

FWG Holdings LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 1,943 shares of the company's stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Abound Financial LLC acquired a new stake in shares of AbbVie during the 1st quarter worth about $30,000. EnRich Financial Partners LLC grew its stake in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $32,000. Pinney & Scofield Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie in the first quarter valued at approximately $42,000. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 2.2%

AbbVie stock traded up $4.14 during mid-day trading on Wednesday, hitting $190.53. 6,202,432 shares of the company's stock were exchanged, compared to its average volume of 6,329,528. The company's 50 day simple moving average is $186.90 and its 200-day simple moving average is $189.19. 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 firm has a market capitalization of $336.55 billion, a P/E ratio of 81.08, a PEG ratio of 1.24 and a beta of 0.48. 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 released its quarterly earnings results on Friday, April 25th. The company reported $2.46 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 for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm posted $2.31 earnings per share. AbbVie's revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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 given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is 279.15%.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent analyst reports. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus 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.