Montag A & Associates Inc. Acquires 5,302 Shares of AbbVie Inc. (NYSE:ABBV)

Montag A & Associates Inc. grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,394 shares of the company's stock after buying an additional 5,302 shares during the period. AbbVie makes up 0.8% of Montag A & Associates Inc.'s investment portfolio, making the stock its 29th largest holding. Montag A & Associates Inc.'s holdings in AbbVie were worth $16,216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aspen Capital Management LLC bought a new position in shares of AbbVie in the 1st quarter worth $262,000. OneAscent Financial Services LLC lifted its holdings in shares of AbbVie by 9.1% in the 1st quarter. OneAscent Financial Services LLC now owns 11,204 shares of the company's stock worth $2,336,000 after purchasing an additional 932 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of AbbVie by 98.4% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 1,839 shares of the company's stock worth $385,000 after purchasing an additional 912 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of AbbVie by 199.8% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 1,505 shares of the company's stock worth $315,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Elyxium Wealth LLC lifted its holdings in shares of AbbVie by 91.4% in the 1st quarter. Elyxium Wealth LLC now owns 4,338 shares of the company's stock worth $909,000 after purchasing an additional 2,071 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on ABBV shares. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Citigroup raised their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Bank of America raised their target price on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Price Performance

Shares of AbbVie stock opened at $189.26 on Friday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The business's 50 day simple moving average is $187.17 and its two-hundred day simple moving average is $189.46. The stock has a market capitalization of $334.31 billion, a P/E ratio of 80.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (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 for the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.47%. AbbVie's payout ratio is 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.

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