Allied Investment Advisors LLC Purchases 224 Shares of AbbVie Inc. (NYSE:ABBV)

Allied Investment Advisors LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 16.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,554 shares of the company’s stock after acquiring an additional 224 shares during the quarter. Allied Investment Advisors LLC’s holdings in AbbVie were worth $283,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dakota Community Bank & Trust NA boosted its position in AbbVie by 3.6% in the first quarter. Dakota Community Bank & Trust NA now owns 2,816 shares of the company’s stock valued at $513,000 after buying an additional 99 shares in the last quarter. Shilanski & Associates Inc. lifted its holdings in AbbVie by 0.7% during the 1st quarter. Shilanski & Associates Inc. now owns 22,341 shares of the company’s stock worth $4,068,000 after buying an additional 156 shares in the last quarter. Private Capital Management LLC raised its stake in shares of AbbVie by 11.6% during the fourth quarter. Private Capital Management LLC now owns 1,793 shares of the company’s stock worth $278,000 after buying an additional 187 shares during the last quarter. BTC Capital Management Inc. bought a new stake in AbbVie in the first quarter valued at approximately $12,946,000. Finally, Johnson & White Wealth Management LLC grew its position in shares of AbbVie by 8.7% in the 1st quarter. Johnson & White Wealth Management LLC now owns 5,431 shares of the company’s stock valued at $989,000 after purchasing an additional 436 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

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

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

AbbVie Dividend Announcement

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Barclays decreased their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Piper Sandler boosted their price target on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. BMO Capital Markets reduced their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Finally, Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $179.64.

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.