AbbVie Inc. (NYSE:ABBV) Shares Purchased by BluePath Capital Management LLC

BluePath Capital Management LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,311 shares of the company’s stock after buying an additional 67 shares during the quarter. AbbVie comprises about 1.0% of BluePath Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. BluePath Capital Management LLC’s holdings in AbbVie were worth $1,331,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of AbbVie during the 4th quarter worth $26,000. Able Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter worth $33,000. IFS Advisors LLC purchased a new position in shares of AbbVie in the 1st quarter worth $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of AbbVie in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Tuesday. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Wednesday, June 5th. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $181.07.

AbbVie Stock Down 1.3 %

Shares of AbbVie stock opened at $163.84 on Thursday. The business has a 50-day moving average of $164.58 and a 200-day moving average of $167.82. 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 company has a market capitalization of $289.32 billion, a PE ratio of 48.62, a P/E/G ratio of 2.12 and a beta of 0.64. AbbVie Inc. has a 1-year low of $132.70 and a 1-year high of $182.89.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors 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 yield of 3.78%. AbbVie’s dividend payout ratio (DPR) 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.