FAS Wealth Partners Inc. Buys 1,064 Shares of AbbVie Inc. (NYSE:ABBV)

FAS Wealth Partners Inc. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,351 shares of the company’s stock after acquiring an additional 1,064 shares during the quarter. FAS Wealth Partners Inc.’s holdings in AbbVie were worth $5,521,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ABBV. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares in the last quarter. Abound Financial LLC bought a new stake in AbbVie during the first quarter worth $30,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie during the fourth quarter worth $32,000. Siemens Fonds Invest GmbH lifted its stake in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in AbbVie during the first quarter worth $35,000. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on ABBV shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Citigroup lifted their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Stock Performance

Shares of AbbVie stock traded down $2.14 during trading on Friday, reaching $189.26. The company’s stock had a trading volume of 5,331,983 shares, compared to its average volume of 6,318,509. The company has a 50-day moving average price of $187.17 and a two-hundred day moving average price of $189.38. The firm has a market cap of $334.31 billion, a PE ratio of 80.54, a P/E/G ratio of 1.27 and a beta of 0.48. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the company posted $2.31 EPS. AbbVie’s revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is presently 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.