Unique Wealth LLC Has $632,000 Stake in AbbVie Inc. (NYSE:ABBV)

Unique Wealth LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 4.0% during the first quarter, Holdings Channel.com reports. The fund owned 3,471 shares of the company’s stock after buying an additional 134 shares during the period. Unique Wealth LLC’s holdings in AbbVie were worth $632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $26,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $36,000. Able Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in AbbVie during the fourth quarter worth $37,000. Finally, Clarity Asset Management Inc. bought a new stake in AbbVie during the fourth quarter worth $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ABBV shares. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Thursday. Finally, Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Trading Down 1.0 %

Shares of AbbVie stock opened at $170.39 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a fifty day simple moving average of $163.89 and a 200 day simple moving average of $166.93. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a market capitalization of $300.89 billion, a P/E ratio of 50.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the business posted $2.46 EPS. The business’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. AbbVie’s payout ratio is presently 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.