Hummer Financial Advisory Services Inc Has $1.51 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Hummer Financial Advisory Services Inc lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,300 shares of the company’s stock after acquiring an additional 260 shares during the quarter. AbbVie makes up approximately 1.2% of Hummer Financial Advisory Services Inc’s holdings, making the stock its 16th largest holding. Hummer Financial Advisory Services Inc’s holdings in AbbVie were worth $1,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares in the last quarter. Capital International Investors lifted its holdings in AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares in the last quarter. Morgan Stanley lifted its holdings in AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Finally, Norges Bank acquired a new position in AbbVie during the 4th quarter worth $3,229,888,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Barclays dropped their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Piper Sandler upped their target price on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Price Performance

ABBV opened at $170.39 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a fifty day simple moving average of $163.89 and a 200 day simple moving average of $166.79. The stock has a market cap of $300.89 billion, a P/E ratio of 50.56, a P/E/G ratio of 2.20 and a beta of 0.60.

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

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.