AbbVie Inc. (NYSE:ABBV) Shares Acquired by Marshall Financial Group LLC

Marshall Financial Group LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,465 shares of the company’s stock after purchasing an additional 558 shares during the quarter. Marshall Financial Group LLC’s holdings in AbbVie were worth $1,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American National Bank & Trust Co. VA purchased a new position in AbbVie during the first quarter worth about $10,194,000. FCG Investment Co purchased a new position in AbbVie during the first quarter worth about $1,413,000. Retirement Guys Formula LLC purchased a new position in AbbVie during the first quarter worth about $301,000. Spinnaker Investment Group LLC raised its stake in AbbVie by 1.6% during the first quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock worth $741,000 after purchasing an additional 64 shares during the period. Finally, Tempus Wealth Planning LLC raised its stake in AbbVie by 10.8% during the first quarter. Tempus Wealth Planning LLC now owns 2,568 shares of the company’s stock worth $468,000 after purchasing an additional 251 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 ABBV stock opened at $163.84 on Friday. 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 stock has a market capitalization of $289.32 billion, a P/E ratio of 48.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.64. The company has a 50 day moving average price of $164.43 and a 200 day moving average price of $167.77. AbbVie Inc. has a fifty-two week low of $132.70 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 earnings per share. Equities research analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors 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 dividend yield of 3.78%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Tuesday. BMO Capital Markets reduced their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Two equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.