Sage Private Wealth Group LLC Increases Stake in AbbVie Inc. (NYSE:ABBV)

Sage Private Wealth Group LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,732 shares of the company’s stock after acquiring an additional 123 shares during the quarter. Sage Private Wealth Group LLC’s holdings in AbbVie were worth $363,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABBV. Brighton Jones LLC lifted its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in AbbVie by 50.8% in the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company’s stock valued at $1,177,000 after buying an additional 2,230 shares during the last quarter. Harbour Investments Inc. lifted its stake in AbbVie by 3.5% in the fourth quarter. Harbour Investments Inc. now owns 22,958 shares of the company’s stock valued at $4,080,000 after buying an additional 780 shares during the last quarter. Finally, GLOBALT Investments LLC GA lifted its stake in AbbVie by 20.8% in the fourth quarter. GLOBALT Investments LLC GA now owns 23,138 shares of the company’s stock valued at $4,112,000 after buying an additional 3,982 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.5%

Shares of AbbVie stock opened at $191.54 on Tuesday. The stock has a market capitalization of $338.33 billion, a P/E ratio of 81.50, a PEG ratio of 1.28 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. The stock has a 50 day moving average price of $186.92 and a two-hundred day moving average price of $189.21. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 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 company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.42%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup raised their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Finally, BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

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.