Retirement Guys Formula LLC Invests $301,000 in AbbVie Inc. (NYSE:ABBV)

Retirement Guys Formula LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,652 shares of the company’s stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie in the fourth quarter valued at $26,000. Able Wealth Management LLC purchased a new position in AbbVie in the fourth quarter valued at $33,000. IFS Advisors LLC purchased a new position in AbbVie in the first quarter valued at $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie in the fourth quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in AbbVie in the first quarter valued at $37,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Tuesday. BMO Capital Markets decreased 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. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Wednesday. Finally, Barclays decreased 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. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

AbbVie Stock Down 1.3 %

ABBV opened at $163.84 on Friday. The business’s 50-day simple moving average is $164.43 and its 200-day simple moving average is $167.77. 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 one year low of $132.70 and a one year high of $182.89. The stock has a market capitalization of $289.32 billion, a P/E ratio of 48.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for 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 business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.78%. 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.