IFC Advisors LLC Invests $549,000 in AbbVie Inc. (NYSE:ABBV)

IFC Advisors LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,621 shares of the company's stock, valued at approximately $549,000.

Other large investors have also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC lifted its holdings in shares of 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. Abound Financial LLC acquired a new position in shares of AbbVie in the first quarter valued at $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at $32,000. Siemens Fonds Invest GmbH raised its stake 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 in the last quarter. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at $36,000. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Down 1.4%

NYSE:ABBV traded down $2.68 during mid-day trading on Friday, hitting $192.32. The company had a trading volume of 4,990,162 shares, compared to its average volume of 6,302,947. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The business's fifty day moving average is $187.01 and its two-hundred day moving average is $188.98. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market cap of $339.71 billion, a P/E ratio of 81.84, a P/E/G ratio of 1.29 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America upped their target price on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Guggenheim upped their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.