Journey Strategic Wealth LLC Buys 6,469 Shares of AbbVie Inc. (NYSE:ABBV)

Journey Strategic Wealth LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 66.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,196 shares of the company's stock after purchasing an additional 6,469 shares during the period. Journey Strategic Wealth LLC's holdings in AbbVie were worth $3,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. EnRich Financial Partners LLC increased 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 worth $29,000 after acquiring an additional 110 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie in the 1st quarter worth $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the 4th quarter worth $32,000. Siemens Fonds Invest GmbH increased its stake in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

AbbVie stock traded down $0.61 during trading hours on Friday, hitting $190.22. The stock had a trading volume of 3,786,155 shares, compared to its average volume of 6,461,288. The company has a 50-day moving average of $187.62 and a two-hundred day moving average of $189.70. 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 cap of $336.00 billion, a PE ratio of 80.94, a price-to-earnings-growth ratio of 1.27 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 posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS 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 during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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 paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.45%. 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.