AbbVie Inc. (NYSE:ABBV) Position Increased by Johnson & White Wealth Management LLC

Johnson & White Wealth Management LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 8.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,431 shares of the company’s stock after purchasing an additional 436 shares during the period. Johnson & White Wealth Management LLC’s holdings in AbbVie were worth $989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie during the fourth quarter valued at $26,000. Able Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at approximately $33,000. IFS Advisors LLC bought a new stake in AbbVie during the first quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of AbbVie during the 4th quarter worth $37,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, June 5th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Thursday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Price Performance

ABBV opened at $170.39 on Friday. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market capitalization of $300.89 billion, a PE ratio of 50.56, a P/E/G ratio of 2.20 and a beta of 0.60. The company has a fifty day moving average price of $163.89 and a two-hundred day moving average price of $166.79.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 earnings per share. As a group, analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.