Sendero Wealth Management LLC Has $1.54 Million Position in AbbVie Inc. (NYSE:ABBV)

Sendero Wealth Management LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,452 shares of the company’s stock after purchasing an additional 66 shares during the period. Sendero Wealth Management LLC’s holdings in AbbVie were worth $1,539,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. 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 note on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research 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 research report on Wednesday, June 5th. Finally, Piper Sandler increased their price target on AbbVie from $185.00 to $190.00 and gave the company 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Price Performance

AbbVie stock opened at $171.52 on Friday. AbbVie Inc. has a one year low of $132.13 and a one year high of $182.89. The business has a fifty day moving average price of $164.60 and a 200-day moving average price of $167.44. 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 firm has a market capitalization of $302.88 billion, a P/E ratio of 50.90, a PEG ratio of 2.19 and a beta of 0.60.

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. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

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 paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio is 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.