AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 200.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,103 shares of the company's stock after purchasing an additional 4,072 shares during the period. Golden State Wealth Management LLC's holdings in AbbVie were worth $1,280,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABBV. LaFleur & Godfrey LLC grew its stake in AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after buying an additional 3,108 shares during the period. Brighton Jones LLC increased its holdings in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC raised its position in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of AbbVie during the fourth quarter worth about $127,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of AbbVie in the fourth quarter worth about $876,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ABBV shares. Citigroup boosted their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. 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 research report on Monday, April 28th. Finally, Morgan Stanley lifted their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Eight equities research 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Stock Performance

NYSE ABBV traded down $4.90 on Friday, hitting $181.89. The stock had a trading volume of 29,262,557 shares, compared to its average volume of 6,322,369. 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 company's 50-day moving average is $186.03 and its two-hundred day moving average is $187.88. The stock has a market cap of $321.29 billion, a price-to-earnings ratio of 77.40, a P/E/G ratio of 1.24 and a beta of 0.50. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66.

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. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.25% of the company's stock.

AbbVie 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.