Aspiriant LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

Aspiriant LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,265 shares of the company’s stock after buying an additional 260 shares during the period. Aspiriant LLC’s holdings in AbbVie were worth $1,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lokken Investment Group LLC lifted its position in shares of AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares during the last quarter. Aspen Wealth Strategies LLC lifted its position in shares of AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after purchasing an additional 61 shares during the last quarter. Marks Group Wealth Management Inc lifted its position in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after purchasing an additional 63 shares during the last quarter. Avion Wealth lifted its position in shares of AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after purchasing an additional 65 shares during the last quarter. Finally, White Pine Capital LLC lifted its position in shares of AbbVie by 1.2% during the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABBV. Guggenheim lifted 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. HSBC upgraded shares of 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. Piper Sandler lifted 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Finally, Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Trading Up 0.2 %

Shares of AbbVie stock opened at $171.15 on Thursday. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. 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 company’s 50-day simple moving average is $164.27 and its 200-day simple moving average is $167.26. The firm has a market cap of $302.23 billion, a price-to-earnings ratio of 50.79, a price-to-earnings-growth ratio of 2.18 and a beta of 0.60.

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 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 in the previous year, the business posted $2.46 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.62%. AbbVie’s dividend payout ratio (DPR) is 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.