AbbVie Inc. (NYSE:ABBV) is Pacific Wealth Management’s 6th Largest Position

Pacific Wealth Management lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 39,649 shares of the company’s stock after selling 237 shares during the quarter. AbbVie makes up 4.6% of Pacific Wealth Management’s investment portfolio, making the stock its 6th biggest position. Pacific Wealth Management’s holdings in AbbVie were worth $8,307,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. EnRich Financial Partners LLC lifted its stake in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Abound Financial LLC acquired a new stake in AbbVie in the first quarter valued at approximately $30,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the fourth quarter worth approximately $32,000. Siemens Fonds Invest GmbH increased its holdings in shares of 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 acquiring an additional 119,141 shares during the period. Finally, Cypress Capital Management LLC WY purchased a new position in shares of AbbVie in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.2%

Shares of ABBV stock traded up $0.41 during trading hours on Monday, reaching $189.67. 369,503 shares of the company’s stock were exchanged, compared to its average volume of 6,304,135. 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 Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The stock has a market cap of $335.02 billion, a PE ratio of 80.29, a PEG ratio of 1.25 and a beta of 0.48. The stock’s fifty day moving average price is $187.17 and its two-hundred day moving average price is $189.53.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating 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 analysts’ expectations of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Guggenheim upped their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Finally, BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

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.