AbbVie Inc. (NYSE:ABBV) Shares Purchased by BKM Wealth Management LLC

BKM Wealth Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 16.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,754 shares of the company’s stock after purchasing an additional 246 shares during the period. BKM Wealth Management LLC’s holdings in AbbVie were worth $319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $26,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter worth approximately $36,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 0.7 %

Shares of NYSE:ABBV opened at $170.37 on Tuesday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company has a market cap of $300.85 billion, a PE ratio of 50.56, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a 52 week low of $132.70 and a 52 week high of $182.89. The firm has a 50 day simple moving average of $164.60 and a 200 day simple moving average of $167.63.

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

AbbVie Dividend Announcement

The business 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 $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.64%. AbbVie’s payout ratio is 183.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABBV shares. 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. Barclays reduced their price target 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. Piper Sandler boosted 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. Finally, Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.