Wealthfront Advisers LLC Increases Stake in AbbVie Inc. (NYSE:ABBV)

Wealthfront Advisers LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,823 shares of the company's stock after purchasing an additional 11,726 shares during the period. Wealthfront Advisers LLC's holdings in AbbVie were worth $33,696,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ABBV. Pinkerton Retirement Specialists LLC grew its holdings in AbbVie by 1.1% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 26,280 shares of the company's stock worth $5,506,000 after acquiring an additional 290 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of AbbVie by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 101,532 shares of the company's stock valued at $21,273,000 after purchasing an additional 813 shares during the period. Sage Private Wealth Group LLC boosted its position in shares of AbbVie by 7.6% during the 1st quarter. Sage Private Wealth Group LLC now owns 1,732 shares of the company's stock valued at $363,000 after purchasing an additional 123 shares in the last quarter. First Command Advisory Services Inc. grew its stake in AbbVie by 5.1% during the first quarter. First Command Advisory Services Inc. now owns 7,157 shares of the company's stock worth $1,500,000 after purchasing an additional 350 shares during the period. Finally, BluePointe Capital Management LLC bought a new stake in AbbVie in the first quarter worth approximately $298,000. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the subject of a number of research reports. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Citigroup lifted their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Guggenheim boosted their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Bank of America increased their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Trading Up 0.4%

ABBV stock traded up $0.68 during midday trading on Thursday, hitting $191.26. The company had a trading volume of 4,851,902 shares, compared to its average volume of 6,323,647. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The stock has a market cap of $337.83 billion, a price-to-earnings ratio of 81.39, a PEG ratio of 1.24 and a beta of 0.48. The stock's 50 day moving average price is $186.95 and its 200 day moving average price is $189.20.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (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 for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 EPS. AbbVie's revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 3.43%. 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.