AbbVie Inc. (NYSE:ABBV) Shares Acquired by Avity Investment Management Inc.

Avity Investment Management Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,448 shares of the company’s stock after buying an additional 170 shares during the quarter. Avity Investment Management Inc.’s holdings in AbbVie were worth $628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the fourth quarter worth about $26,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the first quarter worth about $36,000. Able Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth about $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $37,000. Finally, Clarity Asset Management Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $171.52 on Friday. AbbVie Inc. has a twelve month low of $132.13 and a twelve month high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a 50 day moving average of $164.60 and a two-hundred day moving average of $167.54. The stock has a market cap of $302.88 billion, a P/E ratio of 50.90, a P/E/G ratio of 2.16 and a beta of 0.60.

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

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. 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. Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. 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. Finally, Piper Sandler upped their price target on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $179.64.

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.