Legacy Financial Strategies LLC Acquires 620 Shares of AbbVie Inc. (NYSE:ABBV)

Legacy Financial Strategies LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,728 shares of the company’s stock after acquiring an additional 620 shares during the quarter. AbbVie accounts for about 0.8% of Legacy Financial Strategies LLC’s investment portfolio, making the stock its 25th largest holding. Legacy Financial Strategies LLC’s holdings in AbbVie were worth $3,046,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wedmont Private Capital increased its holdings in shares of AbbVie by 4.8% in the first quarter. Wedmont Private Capital now owns 18,496 shares of the company’s stock worth $3,147,000 after acquiring an additional 851 shares in the last quarter. Banque Cantonale Vaudoise grew its holdings in shares of AbbVie by 18.4% during the first quarter. Banque Cantonale Vaudoise now owns 52,244 shares of the company’s stock worth $9,513,000 after buying an additional 8,122 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of AbbVie by 9.6% during the first quarter. Bruce G. Allen Investments LLC now owns 2,749 shares of the company’s stock worth $501,000 after buying an additional 241 shares in the last quarter. Abacus Wealth Partners LLC grew its holdings in shares of AbbVie by 23.3% during the first quarter. Abacus Wealth Partners LLC now owns 1,739 shares of the company’s stock worth $317,000 after buying an additional 329 shares in the last quarter. Finally, Czech National Bank grew its holdings in shares of AbbVie by 0.4% during the first quarter. Czech National Bank now owns 310,648 shares of the company’s stock worth $56,569,000 after buying an additional 1,373 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Piper Sandler increased their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Two 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 stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Stock Performance

ABBV opened at $170.57 on Friday. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The stock has a market cap of $301.20 billion, a price-to-earnings ratio of 50.61, a PEG ratio of 2.19 and a beta of 0.60. The business has a 50 day moving average of $163.89 and a 200-day moving average of $166.64. 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 (NYSE:ABBV) last released its quarterly earnings data 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 return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the firm posted $2.46 earnings per share. The business’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed 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 3.63%. AbbVie’s payout ratio is 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.