Astoria Portfolio Advisors LLC. Acquires 70 Shares of AbbVie Inc. (NYSE:ABBV)

Astoria Portfolio Advisors LLC. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,265 shares of the company’s stock after purchasing an additional 70 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in AbbVie were worth $1,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Morningstar Investment Services LLC increased its position in shares of AbbVie by 78.7% during the third quarter. Morningstar Investment Services LLC now owns 5,078 shares of the company’s stock valued at $773,000 after acquiring an additional 2,236 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in AbbVie by 195.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock worth $729,000 after purchasing an additional 3,235 shares during the period. Waverly Advisors LLC grew its position in AbbVie by 12.0% in the 3rd quarter. Waverly Advisors LLC now owns 29,538 shares of the company’s stock worth $4,403,000 after purchasing an additional 3,170 shares during the period. United Services Automobile Association grew its position in AbbVie by 5.0% in the 3rd quarter. United Services Automobile Association now owns 290,439 shares of the company’s stock worth $43,293,000 after purchasing an additional 13,800 shares during the period. Finally, First Business Financial Services Inc. grew its position in AbbVie by 0.7% in the 3rd quarter. First Business Financial Services Inc. now owns 13,717 shares of the company’s stock worth $2,045,000 after purchasing an additional 89 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.5 %

ABBV opened at $171.52 on Friday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a fifty-two week low of $132.13 and a fifty-two week high of $182.89. The firm’s fifty day moving average is $164.60 and its 200 day moving average is $167.54. The stock has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a price-to-earnings-growth ratio of 2.16 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 for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the company earned $2.46 EPS. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.61%. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABBV. Barclays cut 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. Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. HSBC raised 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Two equities 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.64.

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.