Lloyd Advisory Services LLC. Has $1.56 Million Stake in AbbVie Inc. (NYSE:ABBV)

Lloyd Advisory Services LLC. grew its position in AbbVie Inc. (NYSE:ABBV) by 377.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,550 shares of the company’s stock after purchasing an additional 6,758 shares during the period. Lloyd Advisory Services LLC.’s holdings in AbbVie were worth $1,557,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares in the last quarter. Capital International Investors raised its holdings in AbbVie by 6.0% during the fourth 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 in the last quarter. Morgan Stanley raised its holdings in AbbVie by 2.9% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AbbVie by 7.5% during the fourth 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 in the last quarter. Finally, Norges Bank bought a new stake in AbbVie during the fourth quarter worth about $3,229,888,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 1.4 %

Shares of NYSE:ABBV opened at $172.75 on Tuesday. The company has a market capitalization of $305.05 billion, a P/E ratio of 51.26, a P/E/G ratio of 2.20 and a beta of 0.60. AbbVie Inc. has a 1 year low of $130.96 and a 1 year 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’s 50 day simple moving average is $164.11 and its 200 day simple moving average is $167.11.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

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 paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is presently 183.98%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. Piper Sandler upped their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Two investment 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’s stock. According to data from MarketBeat, the company presently 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.