Peterson Wealth Advisors LLC Has $725,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Peterson Wealth Advisors LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,979 shares of the company’s stock after selling 499 shares during the quarter. Peterson Wealth Advisors LLC’s holdings in AbbVie were worth $725,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets lowered their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, June 5th. Finally, Piper Sandler lifted their price objective on 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Price Performance

Shares of NYSE ABBV opened at $168.99 on Friday. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock’s 50 day moving average price is $164.41 and its 200-day moving average price is $167.29. The company has a market capitalization of $298.41 billion, a PE ratio of 50.15, a PEG ratio of 2.18 and a beta of 0.60. 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 posted 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. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced 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 3.67%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

AbbVie Company 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.