Successful Portfolios LLC Has $1.36 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Successful Portfolios LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,486 shares of the company’s stock after selling 112 shares during the quarter. AbbVie accounts for about 0.9% of Successful Portfolios LLC’s holdings, making the stock its 29th biggest position. Successful Portfolios LLC’s holdings in AbbVie were worth $1,363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mayfair Advisory Group LLC grew its stake in AbbVie by 6.6% during the 1st quarter. Mayfair Advisory Group LLC now owns 1,620 shares of the company’s stock valued at $295,000 after acquiring an additional 100 shares in the last quarter. SteelPeak Wealth LLC grew its stake in AbbVie by 12.2% during the 1st quarter. SteelPeak Wealth LLC now owns 14,075 shares of the company’s stock valued at $2,563,000 after acquiring an additional 1,529 shares in the last quarter. Financial Partners Group LLC grew its stake in AbbVie by 10.9% during the 1st quarter. Financial Partners Group LLC now owns 2,392 shares of the company’s stock valued at $436,000 after acquiring an additional 236 shares in the last quarter. Breakwater Capital Group grew its stake in AbbVie by 13.7% during the 1st quarter. Breakwater Capital Group now owns 4,494 shares of the company’s stock valued at $818,000 after acquiring an additional 543 shares in the last quarter. Finally, Optas LLC grew its stake in AbbVie by 11.0% during the 1st quarter. Optas LLC now owns 3,582 shares of the company’s stock valued at $652,000 after acquiring an additional 355 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Piper Sandler boosted their price target on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Two investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Stock Down 0.7 %

ABBV opened at $170.37 on Tuesday. The business has a 50 day moving average price of $164.60 and a 200 day moving average price of $167.63. AbbVie Inc. has a twelve month low of $132.70 and a twelve month high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market cap of $300.85 billion, a P/E ratio of 50.56, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share 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 firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the company earned $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. 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.