Jackson Wealth Management LLC Has $9.15 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Jackson Wealth Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 37.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,678 shares of the company's stock after purchasing an additional 11,825 shares during the quarter. AbbVie accounts for about 1.1% of Jackson Wealth Management LLC's investment portfolio, making the stock its 21st biggest holding. Jackson Wealth Management LLC's holdings in AbbVie were worth $9,151,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% in 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 during the period. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH raised its stake in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the period. Pinney & Scofield Inc. acquired a new stake in AbbVie during the 4th quarter valued at $36,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after purchasing an additional 52 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Guggenheim boosted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America increased their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Eight investment 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Price Performance

Shares of ABBV stock traded down $1.25 during trading hours on Friday, reaching $189.50. The company's stock had a trading volume of 3,706,217 shares, compared to its average volume of 6,249,990. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm's 50 day simple moving average is $187.37 and its 200-day simple moving average is $188.56. 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 has a market capitalization of $334.73 billion, a price-to-earnings ratio of 80.64, a PEG ratio of 1.26 and a beta of 0.48.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the company earned $2.31 EPS. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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 given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.46%. AbbVie's dividend payout ratio is currently 279.15%.

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.