AbbVie Inc. (NYSE:ABBV) Shares Purchased by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC raised its stake in AbbVie Inc. (NYSE:ABBVFree Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,665 shares of the company’s stock after buying an additional 1,223 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in AbbVie were worth $3,035,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABBV. American National Bank boosted its holdings in AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after acquiring an additional 2,695 shares during the period. AXS Investments LLC grew its holdings in shares of AbbVie by 3.3% in the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after buying an additional 165 shares during the period. Mizuho Markets Americas LLC lifted its holdings in AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after buying an additional 7,737 shares in the last quarter. Finally, Amplius Wealth Advisors LLC boosted its position in AbbVie by 17.6% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV traded down $2.12 on Thursday, reaching $163.84. The company had a trading volume of 3,527,612 shares, compared to its average volume of 5,996,385. 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 1 year low of $132.70 and a 1 year high of $182.89. The stock has a market capitalization of $289.32 billion, a PE ratio of 48.62, a P/E/G ratio of 2.12 and a beta of 0.64. The stock has a 50-day moving average price of $164.50 and a 200-day moving average price of $167.80.

AbbVie (NYSE:ABBVGet Free Report) 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. As a group, research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday. Barclays cut their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Piper Sandler reiterated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Finally, BMO Capital Markets reduced their target price 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. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $181.07.

View Our Latest Research Report on AbbVie

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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