Ashton Thomas Private Wealth LLC Increases Holdings in AbbVie Inc. (NYSE:ABBV)

Ashton Thomas Private Wealth LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,511 shares of the company’s stock after purchasing an additional 3,265 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in AbbVie were worth $5,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Benchmark Financial Wealth Advisors LLC boosted its position in AbbVie by 9.4% in the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 1,603 shares of the company’s stock valued at $292,000 after buying an additional 138 shares during the last quarter. American Institute for Advanced Investment Management LLP boosted its position in AbbVie by 6.1% in the 1st quarter. American Institute for Advanced Investment Management LLP now owns 8,438 shares of the company’s stock valued at $1,537,000 after buying an additional 486 shares during the last quarter. Strategic Advisors LLC boosted its position in AbbVie by 6.0% in the 1st quarter. Strategic Advisors LLC now owns 64,155 shares of the company’s stock valued at $11,683,000 after buying an additional 3,628 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in AbbVie by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 138,163 shares of the company’s stock valued at $25,159,000 after buying an additional 774 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC boosted its position in AbbVie by 7.9% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 16,665 shares of the company’s stock valued at $3,035,000 after buying an additional 1,223 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets cut 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. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Finally, 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 research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $181.07.

Get Our Latest Report on AbbVie

AbbVie Price Performance

NYSE ABBV opened at $167.25 on Friday. AbbVie Inc. has a 52 week low of $132.70 and a 52 week high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a market cap of $295.34 billion, a price-to-earnings ratio of 49.63, 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 $164.58 and a two-hundred day moving average price of $167.87.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. The business 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 revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $2.46 earnings per share. Analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

About AbbVie

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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