PFS Partners LLC Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

PFS Partners LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,217 shares of the company’s stock after purchasing an additional 103 shares during the quarter. PFS Partners LLC’s holdings in AbbVie were worth $222,000 at the end of the most recent reporting period.

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

AbbVie Stock Down 1.3 %

Shares of AbbVie stock 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 company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company’s 50 day moving average is $164.41 and its 200 day moving average is $167.29. The company has a market cap of $298.41 billion, a price-to-earnings ratio of 50.15, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60.

AbbVie (NYSE:ABBV) last released 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 return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the firm earned $2.46 EPS. The company’s revenue was up .7% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current 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 issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

A number of brokerages have weighed in on ABBV. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Thursday, June 20th. Piper Sandler increased their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Finally, Barclays reduced 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. Two 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.

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.