MBE Wealth Management LLC Buys 244 Shares of AbbVie Inc. (NYSE:ABBV)

MBE Wealth Management LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 4.9% during the 1st quarter, HoldingsChannel reports. The fund owned 5,192 shares of the company’s stock after acquiring an additional 244 shares during the quarter. MBE Wealth Management LLC’s holdings in AbbVie were worth $1,088,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABBV. Crestline Management LP lifted its position in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after buying an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its position in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after buying an additional 276 shares in the last quarter. AXA S.A. lifted its position in AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after buying an additional 125,568 shares in the last quarter. Finally, Weaver Capital Management LLC lifted its position in AbbVie by 3.9% during the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock worth $1,727,000 after buying an additional 310 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Citigroup upped their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.29.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

AbbVie Price Performance

AbbVie stock opened at $185.16 on Friday. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The stock’s 50 day moving average is $185.19 and its 200-day moving average is $187.70. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $327.06 billion, a price-to-earnings ratio of 78.79, a PEG ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.54%. AbbVie’s dividend payout ratio is currently 279.15%.

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.