Lake Street Private Wealth LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Lake Street Private Wealth LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,418 shares of the company’s stock after acquiring an additional 1,373 shares during the quarter. AbbVie comprises about 0.8% of Lake Street Private Wealth LLC’s portfolio, making the stock its 29th largest position. Lake Street Private Wealth LLC’s holdings in AbbVie were worth $5,539,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Lokken Investment Group LLC boosted 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 during the period. Aspen Wealth Strategies LLC lifted its holdings in shares of 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 buying an additional 61 shares during the period. Marks Group Wealth Management Inc lifted its holdings in shares of 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 buying an additional 63 shares during the period. Avion Wealth grew its position in shares of AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after buying an additional 65 shares in the last quarter. Finally, White Pine Capital LLC increased its stake in shares of AbbVie by 1.2% during the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after buying an additional 65 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.3 %

Shares of NYSE:ABBV opened at $163.84 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 52-week low of $132.70 and a 52-week high of $182.89. The stock has a market cap of $289.32 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 2.12 and a beta of 0.64. The business has a 50-day moving average price of $164.58 and a 200-day moving average price of $167.82.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 11.02% and a return on equity of 179.47%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. Equities analysts predict that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is presently 183.98%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. 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. BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Finally, Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

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.