AbbVie Inc. (NYSE:ABBV) Position Boosted by Southland Equity Partners LLC

Southland Equity Partners LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 23.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,677 shares of the company’s stock after purchasing an additional 1,481 shares during the period. Southland Equity Partners LLC’s holdings in AbbVie were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ABBV. Range Financial Group LLC boosted its holdings in shares of AbbVie by 1.8% in the first quarter. Range Financial Group LLC now owns 14,162 shares of the company’s stock worth $2,579,000 after buying an additional 254 shares during the period. Lloyd Advisory Services LLC. boosted its holdings in shares of AbbVie by 377.1% in the first quarter. Lloyd Advisory Services LLC. now owns 8,550 shares of the company’s stock worth $1,557,000 after buying an additional 6,758 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of AbbVie by 28.4% in the first quarter. AdvisorNet Financial Inc now owns 4,524 shares of the company’s stock worth $824,000 after buying an additional 1,000 shares during the period. CHICAGO TRUST Co NA boosted its holdings in shares of AbbVie by 1.3% in the first quarter. CHICAGO TRUST Co NA now owns 65,194 shares of the company’s stock worth $11,872,000 after buying an additional 815 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of AbbVie in the first quarter worth about $188,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $172.75 on Tuesday. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company’s fifty day moving average is $164.11 and its 200-day moving average is $167.11. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The firm has a market cap of $305.05 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60.

AbbVie (NYSE:ABBV) last posted its earnings results 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. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the business posted $2.46 EPS. AbbVie’s revenue was up .7% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.59%. AbbVie’s payout ratio is presently 183.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ABBV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Piper Sandler increased 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. Finally, Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus 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.