Atwater Malick LLC Acquires 1,095 Shares of AbbVie Inc. (NYSE:ABBV)

Atwater Malick LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 65.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,764 shares of the company’s stock after purchasing an additional 1,095 shares during the period. Atwater Malick LLC’s holdings in AbbVie were worth $503,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in AbbVie during the fourth quarter worth about $3,229,888,000. International Assets Investment Management LLC acquired a new stake in AbbVie during the fourth quarter worth about $499,955,000. Capital International Investors grew its position 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 buying an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after buying an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 valued at $3,774,569,000 after purchasing an additional 1,702,415 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABBV. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Piper Sandler lifted their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Stock Performance

ABBV stock opened at $171.52 on Friday. 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 company has a 50 day moving average price of $164.60 and a 200 day moving average price of $167.54. AbbVie Inc. has a fifty-two week low of $132.13 and a fifty-two week high of $182.89. The stock has a market capitalization of $302.88 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share 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 firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 EPS. AbbVie’s revenue was up .7% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 11.27 EPS for the current 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 given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

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.