AbbVie Inc. (NYSE:ABBV) Shares Bought by Pathway Financial Advisors LLC

Pathway Financial Advisors LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 3.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,110 shares of the company’s stock after acquiring an additional 110 shares during the period. Pathway Financial Advisors LLC’s holdings in AbbVie were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of AbbVie in the fourth quarter valued at about $3,229,888,000. International Assets Investment Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $499,955,000. Capital International Investors lifted its stake in shares of AbbVie by 6.0% in the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after purchasing an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of AbbVie by 39.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after purchasing an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Thursday. 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. 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. 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. Finally, Piper Sandler lifted their target price on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $170.57 on Friday. The company has a market cap of $301.20 billion, a PE ratio of 50.61, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The company has a 50-day simple moving average of $163.89 and a 200-day simple moving average of $166.64.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) 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 firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. AbbVie’s revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.63%. AbbVie’s payout ratio 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.