AbbVie Inc. (NYSE:ABBV) Shares Acquired by Capital Planning LLC

Capital Planning LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 18.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,084 shares of the company’s stock after buying an additional 934 shares during the quarter. Capital Planning LLC’s holdings in AbbVie were worth $1,108,000 as of its most recent SEC filing.

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

AbbVie Price Performance

ABBV stock opened at $172.75 on Tuesday. The firm has a market capitalization of $305.05 billion, a PE ratio of 51.26, a price-to-earnings-growth ratio of 2.18 and a beta of 0.60. AbbVie Inc. has a 1 year low of $130.96 and a 1 year 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 business has a 50 day simple moving average of $164.11 and a 200-day simple moving average of $167.11.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed 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 is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.59%. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

ABBV has been the subject of a number of analyst reports. Guggenheim upped 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. Piper Sandler upped 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. HSBC raised 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. Finally, Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

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.