Wealthcare Advisory Partners LLC Buys 8,184 Shares of AbbVie Inc. (NYSE:ABBV)

Wealthcare Advisory Partners LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 23.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,837 shares of the company’s stock after acquiring an additional 8,184 shares during the period. Wealthcare Advisory Partners LLC’s holdings in AbbVie were worth $7,801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. DGS Capital Management LLC increased its position in AbbVie by 33.0% during the first quarter. DGS Capital Management LLC now owns 3,279 shares of the company’s stock worth $597,000 after buying an additional 814 shares during the last quarter. Revolve Wealth Partners LLC increased its position in AbbVie by 10.1% during the first quarter. Revolve Wealth Partners LLC now owns 3,083 shares of the company’s stock worth $561,000 after buying an additional 282 shares during the last quarter. Aspiriant LLC increased its position in AbbVie by 2.9% during the first quarter. Aspiriant LLC now owns 9,265 shares of the company’s stock worth $1,687,000 after buying an additional 260 shares during the last quarter. St. Johns Investment Management Company LLC grew its position in shares of AbbVie by 18.4% in the first quarter. St. Johns Investment Management Company LLC now owns 4,008 shares of the company’s stock valued at $730,000 after purchasing an additional 624 shares during the last quarter. Finally, Aletheian Wealth Advisors LLC grew its position in shares of AbbVie by 18.0% in the first quarter. Aletheian Wealth Advisors LLC now owns 1,609 shares of the company’s stock valued at $293,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Finally, Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. 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 stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Stock Down 1.3 %

NYSE ABBV opened at $168.99 on Friday. The business has a fifty day moving average price of $164.41 and a two-hundred day moving average price of $167.29. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. 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 capitalization of $298.41 billion, a PE ratio of 50.15, a PEG ratio of 2.18 and a beta of 0.60.

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

AbbVie Dividend Announcement

The business 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. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.67%. AbbVie’s payout ratio is 183.98%.

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.