AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Cooper Financial Group

Cooper Financial Group grew its position in AbbVie Inc. (NYSE:ABBV) by 13.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,028 shares of the company’s stock after purchasing an additional 1,587 shares during the period. Cooper Financial Group’s holdings in AbbVie were worth $2,372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $26,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $42,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.0 %

AbbVie stock opened at $170.39 on Monday. The firm has a market cap 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 debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm’s 50 day moving average price is $163.89 and its two-hundred day moving average price is $166.93. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the business posted $2.46 EPS. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

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 paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABBV. Piper Sandler upped their price target on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday. Barclays cut their target price 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. Finally, BMO Capital Markets cut their target price 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. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.64.

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.