1,053 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by MA Private Wealth

MA Private Wealth bought a new stake in AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,053 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Abound Financial LLC bought a new stake in AbbVie in the 1st quarter valued at $30,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter valued at $32,000. Siemens Fonds Invest GmbH increased its holdings in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. bought a new stake in shares of AbbVie in the 4th quarter worth about $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABBV shares. 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. Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. Eight 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Price Performance

Shares of ABBV opened at $192.32 on Friday. The stock has a market capitalization of $339.71 billion, a P/E ratio of 81.84, a P/E/G ratio of 1.29 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The company has a 50 day moving average of $187.01 and a 200-day moving average of $188.98.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend 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.