Allied Investment Advisors LLC Purchases 224 Shares of AbbVie Inc. (NYSE:ABBV)

Allied Investment Advisors LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 16.8% in the first quarter, HoldingsChannel reports. The firm owned 1,554 shares of the company’s stock after purchasing an additional 224 shares during the quarter. Allied Investment Advisors LLC’s holdings in AbbVie were worth $283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie during the fourth quarter valued at $26,000. Able Wealth Management LLC bought a new position in AbbVie during the 4th quarter valued at about $33,000. IFS Advisors LLC bought a new position in AbbVie during the 1st quarter valued at about $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie in the 4th quarter worth about $37,000. Finally, Clarity Asset Management Inc. bought a new stake in AbbVie in the fourth quarter worth about $42,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.0 %

NYSE ABBV opened at $170.39 on Friday. The stock has a market cap of $300.89 billion, a P/E ratio of 50.56, a P/E/G ratio of 2.20 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a fifty day simple moving average of $163.89 and a two-hundred day simple moving average of $166.79.

AbbVie (NYSE:ABBV) last issued its quarterly 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. 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 quarter in the previous year, the firm posted $2.46 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The firm 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 dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABBV shares. Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Thursday. Finally, Piper Sandler raised 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, June 18th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.64.

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.