WealthShield Partners LLC Purchases 373 Shares of AbbVie Inc. (NYSE:ABBV)

WealthShield Partners LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.1% in the 1st quarter, HoldingsChannel reports. The firm owned 4,964 shares of the company’s stock after acquiring an additional 373 shares during the quarter. WealthShield Partners LLC’s holdings in AbbVie were worth $1,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new position in shares of AbbVie in the first quarter worth about $30,000. EnRich Financial Partners LLC increased its holdings in shares of AbbVie by 196.4% in 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 during the period. Cypress Capital Management LLC WY purchased a new position in shares of AbbVie in the first quarter worth about $35,000. Pinney & Scofield Inc. purchased a new position in shares of AbbVie in the fourth quarter worth about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of AbbVie in the first quarter worth about $42,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Raymond James Financial lifted their price objective on AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Guggenheim lifted their price objective on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Finally, Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eight equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.81.

AbbVie Stock Performance

ABBV stock opened at $196.37 on Thursday. The stock has a market capitalization of $346.90 billion, a PE ratio of 93.51, a price-to-earnings-growth ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The company has a current ratio of 0.74, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The stock’s 50 day simple moving average is $188.86 and its 200 day simple moving average is $190.65.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $2.65 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid 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 yield of 3.3%. AbbVie’s payout ratio is currently 312.38%.

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.