AbbVie Inc. (NYSE:ABBV) Shares Acquired by Dogwood Wealth Management LLC

Dogwood Wealth Management LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 30.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325 shares of the company’s stock after purchasing an additional 75 shares during the period. Dogwood Wealth Management LLC’s holdings in AbbVie were worth $68,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Steel Grove Capital Advisors LLC increased its holdings in shares of AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after acquiring an additional 52 shares during the last quarter. Peninsula Wealth LLC lifted its holdings in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after buying an additional 54 shares during the period. Connecticut Wealth Management LLC lifted its holdings in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after buying an additional 57 shares during the period. Castle Wealth Management LLC lifted its holdings in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock valued at $361,000 after buying an additional 57 shares during the period. Finally, Northstar Group Inc. lifted its holdings in shares of AbbVie by 0.7% during the first quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock valued at $1,783,000 after purchasing an additional 58 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Morgan Stanley increased their price objective on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Finally, Bank of America raised their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

AbbVie stock opened at $189.60 on Wednesday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company’s 50 day moving average price is $187.19 and its two-hundred day moving average price is $188.77. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The stock has a market cap of $334.91 billion, a P/E ratio of 80.68, a P/E/G ratio of 1.25 and a beta of 0.48.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 annualized dividend and a yield of 3.46%. AbbVie’s payout ratio is 279.15%.

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.