Synergy Asset Management LLC Purchases 1,378 Shares of AbbVie Inc. (NYSE:ABBV)

Synergy Asset Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 15.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,159 shares of the company's stock after purchasing an additional 1,378 shares during the quarter. Synergy Asset Management LLC's holdings in AbbVie were worth $2,129,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. EnRich Financial Partners LLC grew its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $31,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the 4th quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie during the 4th quarter valued at approximately $36,000. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated 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 directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Evercore ISI boosted 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. Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Bank of America boosted their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. 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 assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Trading Down 0.2%

Shares of NYSE ABBV opened at $185.16 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 stock has a market capitalization of $327.06 billion, a P/E ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The business has a fifty day moving average price of $185.19 and a 200 day moving average price of $187.70.

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

AbbVie Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.54%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

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.

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