1,450 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by CCG Wealth Management LLC

CCG Wealth Management LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, HoldingsChannel.com reports. The firm purchased 1,450 shares of the company’s stock, valued at approximately $264,000.

Several other institutional investors also recently made changes to their positions in ABBV. Lokken Investment Group LLC lifted its holdings in shares of AbbVie by 3.6% in the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after purchasing an additional 58 shares in the last quarter. Aspen Wealth Strategies LLC lifted its stake in AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares in the last quarter. Marks Group Wealth Management Inc lifted its stake in AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after acquiring an additional 63 shares in the last quarter. Avion Wealth grew its stake in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after acquiring an additional 65 shares in the last quarter. Finally, White Pine Capital LLC increased its holdings in shares of AbbVie by 1.2% in the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after purchasing an additional 65 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Wednesday, June 5th. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Trading Down 0.7 %

NYSE:ABBV opened at $170.37 on Tuesday. 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 $164.60 and its 200-day moving average is $167.63. The firm has a market cap of $300.85 billion, a price-to-earnings ratio of 50.56, a P/E/G ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a 12 month low of $132.70 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. Equities analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.64%. AbbVie’s payout ratio is 183.98%.

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.