Kathmere Capital Management LLC Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Kathmere Capital Management LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,269 shares of the company’s stock after buying an additional 71 shares during the quarter. Kathmere Capital Management LLC’s holdings in AbbVie were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $26,000. Able Wealth Management LLC acquired a new stake in AbbVie in the fourth quarter valued at $33,000. IFS Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter worth $36,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie during the 4th quarter worth $37,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at about $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 1.5 %

Shares of NYSE ABBV opened at $171.52 on Friday. The firm’s 50 day moving average price is $164.60 and its 200 day moving average price is $167.54. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market cap of $302.88 billion, a P/E ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. AbbVie Inc. has a 1 year low of $132.13 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the business 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, sell-side analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Piper Sandler lifted their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. 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. BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

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.