Ameliora Wealth Management Ltd. Grows Stake in AbbVie Inc. (NYSE:ABBV)

Ameliora Wealth Management Ltd. raised its stake in AbbVie Inc. (NYSE:ABBV) by 142.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,700 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in AbbVie were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sendero Wealth Management LLC raised its position in shares of AbbVie by 0.8% in the first quarter. Sendero Wealth Management LLC now owns 8,452 shares of the company’s stock valued at $1,539,000 after purchasing an additional 66 shares during the period. Capital Asset Advisory Services LLC raised its position in shares of AbbVie by 6.3% in the first quarter. Capital Asset Advisory Services LLC now owns 18,701 shares of the company’s stock valued at $3,179,000 after purchasing an additional 1,108 shares during the period. Artemis Investment Management LLP raised its position in shares of AbbVie by 3.4% in the first quarter. Artemis Investment Management LLP now owns 452,653 shares of the company’s stock valued at $82,384,000 after purchasing an additional 14,963 shares during the period. Indiana Trust & Investment Management CO raised its position in shares of AbbVie by 1.2% in the first quarter. Indiana Trust & Investment Management CO now owns 11,623 shares of the company’s stock valued at $2,117,000 after purchasing an additional 139 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of AbbVie by 26.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 31,143 shares of the company’s stock valued at $5,671,000 after purchasing an additional 6,509 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Piper Sandler upped their target price on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $171.52 on Friday. The company’s fifty day moving average price is $164.60 and its 200-day moving average price is $167.44. The firm has a market capitalization of $302.88 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a one year low of $132.13 and a one 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.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the company earned $2.46 EPS. The firm’s revenue was up .7% on a year-over-year basis. On average, 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. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.61%. AbbVie’s dividend payout ratio (DPR) 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.