AbbVie Inc. (NYSE:ABBV) is Aviance Capital Partners LLC’s 2nd Largest Position

Aviance Capital Partners LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,303 shares of the company’s stock after acquiring an additional 387 shares during the period. AbbVie makes up about 4.2% of Aviance Capital Partners LLC’s holdings, making the stock its 2nd largest holding. Aviance Capital Partners LLC’s holdings in AbbVie were worth $30,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in ABBV. Moody Aldrich Partners LLC boosted its stake in AbbVie by 3.4% during the first quarter. Moody Aldrich Partners LLC now owns 3,103 shares of the company’s stock valued at $650,000 after buying an additional 103 shares during the period. MBA Advisors LLC lifted its stake in AbbVie by 1.7% during the first quarter. MBA Advisors LLC now owns 5,840 shares of the company’s stock worth $1,224,000 after purchasing an additional 96 shares during the last quarter. AF Advisors Inc. bought a new stake in AbbVie during the first quarter worth about $201,000. Davidson Trust Co. lifted its stake in AbbVie by 1.0% during the first quarter. Davidson Trust Co. now owns 41,764 shares of the company’s stock worth $8,750,000 after purchasing an additional 421 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC lifted its stake in AbbVie by 2.7% during the first quarter. Onyx Bridge Wealth Group LLC now owns 5,671 shares of the company’s stock worth $1,188,000 after purchasing an additional 148 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABBV. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Citigroup boosted their price target on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Finally, Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Trading Down 0.7%

Shares of ABBV stock opened at $189.50 on Friday. AbbVie Inc. has a 52-week low of $163.63 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market capitalization of $334.73 billion, a PE ratio of 80.64, a PEG ratio of 1.27 and a beta of 0.48. The stock has a fifty day simple moving average of $187.30 and a two-hundred day simple moving average of $188.36.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.46%. AbbVie’s payout ratio is 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.