Claro Advisors LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,962 shares of the company’s stock after purchasing an additional 363 shares during the quarter. AbbVie comprises about 0.8% of Claro Advisors LLC’s holdings, making the stock its 29th biggest holding. Claro Advisors LLC’s holdings in AbbVie were worth $4,363,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie in the fourth quarter valued at $26,000. Able Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth $33,000. IFS Advisors LLC purchased a new position in shares of AbbVie during the first quarter worth about $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at approximately $37,000. Finally, Clarity Asset Management Inc. acquired a new position in AbbVie in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.
AbbVie Stock Performance
Shares of ABBV opened at $170.37 on Tuesday. AbbVie Inc. has a 52-week low of $132.70 and a 52-week high of $182.89. 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 firm has a market cap of $300.85 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 2.19 and a beta of 0.64. The business’s 50 day moving average is $164.60 and its two-hundred day moving average is $167.63.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Piper Sandler increased their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” 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 target price on the stock in a report on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Finally, Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.
Check Out Our Latest Stock Report on ABBV
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.
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