Financial Synergies Wealth Advisors Inc. Buys 247 Shares of AbbVie Inc. (NYSE:ABBV)

Financial Synergies Wealth Advisors Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 177.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 386 shares of the company’s stock after acquiring an additional 247 shares during the period. Financial Synergies Wealth Advisors Inc.’s holdings in AbbVie were worth $70,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares during the period. Capital International Investors increased its holdings in AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after acquiring an additional 2,542,463 shares during the period. Morgan Stanley increased its holdings in AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after acquiring an additional 914,485 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares during the period. Finally, Norges Bank bought a new stake in AbbVie during the 4th quarter worth approximately $3,229,888,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.4 %

Shares of ABBV opened at $172.75 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock has a market capitalization of $305.05 billion, a P/E ratio of 51.26, a PEG ratio of 2.18 and a beta of 0.60. The firm has a fifty day simple moving average of $164.11 and a two-hundred day simple moving average of $167.11.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. On average, research analysts anticipate 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. 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 annualized dividend and a dividend yield of 3.59%. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABBV. Piper Sandler upped their target price on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. 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 note on Wednesday, June 5th. BMO Capital Markets cut their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Finally, Guggenheim boosted 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. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus 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.