Mountain Pacific Investment Advisers Inc. ID Has $3.17 Million Stake in AbbVie Inc. (NYSE:ABBV)

Mountain Pacific Investment Advisers Inc. ID trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 1.7% in the first quarter, HoldingsChannel.com reports. The firm owned 17,414 shares of the company’s stock after selling 300 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in AbbVie were worth $3,171,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABBV. Piper Sandler increased their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. 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. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Guggenheim increased 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Thursday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Price Performance

Shares of NYSE ABBV opened at $170.39 on Monday. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock has a market cap of $300.89 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 2.20 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm’s 50-day simple moving average is $163.89 and its 200 day simple moving average is $166.93.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter last year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.64%. 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.