Strata Wealth Advisors LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Strata Wealth Advisors LLC purchased a new position in AbbVie Inc. (NYSE:ABBV) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,315 shares of the company’s stock, valued at approximately $422,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie during the 4th quarter valued at about $26,000. Able Wealth Management LLC purchased a new position in AbbVie during the fourth quarter valued at approximately $33,000. IFS Advisors LLC purchased a new position in AbbVie during the first quarter valued at approximately $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the fourth quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. purchased a new stake in AbbVie during the fourth quarter worth $42,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $171.52 on Monday. The company has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.19 and a beta of 0.60. 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 stock’s fifty day moving average price is $164.60 and its 200 day moving average price is $167.63. AbbVie Inc. has a 1 year low of $132.13 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating 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 analyst estimates of $11.93 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. 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. BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Piper Sandler raised their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Barclays reduced their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Company 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.