AbbVie Inc. (NYSE:ABBV) Stock Holdings Lifted by Horizon Financial Services LLC

Horizon Financial Services LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 17,945.7% in the first quarter, HoldingsChannel reports. The fund owned 6,316 shares of the company’s stock after buying an additional 6,281 shares during the quarter. Horizon Financial Services LLC’s holdings in AbbVie were worth $1,323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EnRich Financial Partners LLC lifted its holdings in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new position in AbbVie in the 4th quarter valued at $32,000. Siemens Fonds Invest GmbH grew its holdings in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after acquiring an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Bank of America upped their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Finally, Evercore ISI increased their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Price Performance

ABBV stock opened at $189.88 on Wednesday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The business’s 50-day moving average is $186.85 and its two-hundred day moving average is $188.22. The firm has a market capitalization of $335.40 billion, a P/E ratio of 80.99, a P/E/G ratio of 1.23 and a beta of 0.48. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

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

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.45%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

About AbbVie

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.