LexAurum Advisors LLC Purchases Shares of 1,152 AbbVie Inc. (NYSE:ABBV)

LexAurum Advisors LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,152 shares of the company’s stock, valued at approximately $210,000.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABBV. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Piper Sandler boosted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Trading Down 1.0 %

NYSE:ABBV opened at $170.39 on Friday. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The business has a 50 day simple moving average of $163.89 and a 200 day simple moving average of $166.79. The firm has a market capitalization 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.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (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 company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared 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. 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 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.