AbbVie Inc. (NYSE:ABBV) Shares Acquired by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,754 shares of the company’s stock after purchasing an additional 112 shares during the quarter. IVC Wealth Advisors LLC’s holdings in AbbVie were worth $319,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. E&G Advisors LP boosted its holdings in shares of AbbVie by 3.1% in the 1st quarter. E&G Advisors LP now owns 3,459 shares of the company’s stock valued at $630,000 after acquiring an additional 103 shares during the last quarter. BluePath Capital Management LLC boosted its holdings in shares of AbbVie by 0.9% in the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after acquiring an additional 67 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at $37,000. Svenska Handelsbanken AB publ purchased a new stake in shares of AbbVie in the 1st quarter valued at $33,279,000. Finally, Albion Financial Group UT boosted its holdings in shares of AbbVie by 242.3% in the 1st quarter. Albion Financial Group UT now owns 42,555 shares of the company’s stock valued at $7,749,000 after acquiring an additional 30,123 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Tuesday. BMO Capital Markets lowered their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.07.

AbbVie Price Performance

Shares of NYSE ABBV opened at $163.84 on Thursday. The firm has a 50-day simple moving average of $164.58 and a 200-day simple moving average of $167.82. The stock has a market capitalization of $289.32 billion, a price-to-earnings ratio of 48.62, a price-to-earnings-growth ratio of 2.12 and a beta of 0.64. 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 52 week low of $132.70 and a 52 week high of $182.89.

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

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

About AbbVie

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.