AbbVie Inc. (NYSE:ABBV) Shares Bought by Hamel Associates Inc.

Hamel Associates Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,705 shares of the company’s stock after purchasing an additional 150 shares during the period. AbbVie accounts for about 1.5% of Hamel Associates Inc.’s investment portfolio, making the stock its 29th largest holding. Hamel Associates Inc.’s holdings in AbbVie were worth $4,338,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sunbeam Capital Management LLC boosted its holdings in AbbVie by 2.7% during the first quarter. Sunbeam Capital Management LLC now owns 3,996 shares of the company’s stock valued at $837,000 after acquiring an additional 104 shares during the period. One Wealth Advisors LLC increased its holdings in shares of AbbVie by 44.6% in the first quarter. One Wealth Advisors LLC now owns 3,438 shares of the company’s stock valued at $720,000 after purchasing an additional 1,060 shares in the last quarter. Lifeworks Advisors LLC increased its holdings in shares of AbbVie by 6.7% in the first quarter. Lifeworks Advisors LLC now owns 44,849 shares of the company’s stock valued at $9,397,000 after purchasing an additional 2,814 shares in the last quarter. Innova Wealth Partners boosted its stake in AbbVie by 2.3% in the first quarter. Innova Wealth Partners now owns 4,895 shares of the company’s stock valued at $1,026,000 after acquiring an additional 108 shares during the last quarter. Finally, Journey Strategic Wealth LLC boosted its stake in AbbVie by 66.5% in the first quarter. Journey Strategic Wealth LLC now owns 16,196 shares of the company’s stock valued at $3,394,000 after acquiring an additional 6,469 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV traded up $0.85 during mid-day trading on Thursday, reaching $191.40. 716,785 shares of the company’s stock were exchanged, compared to its average volume of 6,881,998. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock has a market capitalization of $338.09 billion, a PE ratio of 81.63, a price-to-earnings-growth ratio of 1.24 and a beta of 0.48. The business’s fifty day simple moving average is $187.31 and its 200-day simple moving average is $189.55. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm 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 company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.31 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is presently 279.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABBV shares. Citigroup lifted their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Guggenheim lifted their price target 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. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Eight 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Company 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.