Global Wealth Management Investment Advisory Inc. Acquires 6,318 Shares of AbbVie Inc. (NYSE:ABBV)

Global Wealth Management Investment Advisory Inc. increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 21.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 36,332 shares of the company's stock after buying an additional 6,318 shares during the quarter. AbbVie accounts for approximately 1.5% of Global Wealth Management Investment Advisory Inc.'s portfolio, making the stock its 18th largest holding. Global Wealth Management Investment Advisory Inc.'s holdings in AbbVie were worth $7,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Brighton Jones LLC boosted its holdings in shares of AbbVie by 17.4% in the 4th 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 boosted its holdings in shares of AbbVie by 72.7% in the 4th 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. NewSquare Capital LLC boosted its holdings in shares of AbbVie by 53,000.0% in the 4th quarter. NewSquare Capital LLC now owns 531 shares of the company's stock worth $94,000 after buying an additional 530 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of AbbVie by 11.4% in the 4th quarter. Assetmark Inc. now owns 167,652 shares of the company's stock worth $29,792,000 after buying an additional 17,143 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in AbbVie by 50.8% during the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock valued at $1,177,000 after purchasing an additional 2,230 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of ABBV stock traded down $1.25 during trading on Friday, hitting $189.50. The company had a trading volume of 3,706,217 shares, compared to its average volume of 6,248,905. 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's 50-day moving average is $187.37 and its two-hundred day moving average is $188.46. The stock has a market capitalization of $334.73 billion, a price-to-earnings ratio of 80.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a 52 week low of $163.63 and a 52 week high of $218.66.

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

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Finally, Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

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.