AbbVie Inc. (NYSE:ABBV) Shares Purchased by Claro Advisors LLC

Claro Advisors LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,962 shares of the company’s stock after purchasing an additional 363 shares during the quarter. AbbVie comprises about 0.8% of Claro Advisors LLC’s holdings, making the stock its 29th biggest holding. Claro Advisors LLC’s holdings in AbbVie were worth $4,363,000 at the end of the most recent quarter.

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

AbbVie Stock Performance

Shares of ABBV opened at $170.37 on Tuesday. AbbVie Inc. has a 52-week low of $132.70 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 firm has a market cap of $300.85 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 2.19 and a beta of 0.64. The business’s 50 day moving average is $164.60 and its two-hundred day moving average is $167.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 posted $2.46 EPS. The business’s revenue was up .7% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Piper Sandler increased their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Finally, Guggenheim increased 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. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.