BCS Wealth Management Purchases 299 Shares of AbbVie Inc. (NYSE:ABBV)

BCS Wealth Management boosted its position in AbbVie Inc. (NYSE:ABBV) by 5.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,450 shares of the company’s stock after buying an additional 299 shares during the period. BCS Wealth Management’s holdings in AbbVie were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ABBV. V Square Quantitative Management LLC lifted its position in shares of AbbVie by 939.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,434 shares of the company’s stock valued at $214,000 after acquiring an additional 1,296 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of AbbVie by 238.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 94,401 shares of the company’s stock worth $14,071,000 after buying an additional 66,500 shares in the last quarter. Mystic Asset Management Inc. raised its holdings in shares of AbbVie by 0.5% during the 3rd quarter. Mystic Asset Management Inc. now owns 15,816 shares of the company’s stock worth $2,358,000 after buying an additional 75 shares in the last quarter. Retirement Planning Co of New England Inc. raised its holdings in shares of AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after buying an additional 4,633 shares in the last quarter. Finally, Blue Investment Partners LLC raised its holdings in shares of AbbVie by 6.6% during the 3rd quarter. Blue Investment Partners LLC now owns 1,664 shares of the company’s stock worth $248,000 after buying an additional 103 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABBV. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Wednesday, June 5th. Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Thursday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Stock Down 0.9 %

Shares of AbbVie stock opened at $170.57 on Friday. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock’s 50-day moving average is $163.89 and its 200 day moving average is $166.64. The firm has a market cap of $301.20 billion, a price-to-earnings ratio of 50.61, a PEG ratio of 2.19 and a beta of 0.60.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.63%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.