Horizon Wealth Management LLC Acquires 111 Shares of AbbVie Inc. (NYSE:ABBV)

Horizon Wealth Management LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,508 shares of the company’s stock after purchasing an additional 111 shares during the period. Horizon Wealth Management LLC’s holdings in AbbVie were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

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

AbbVie Price Performance

Shares of NYSE:ABBV opened at $170.37 on Tuesday. 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 capitalization of $300.85 billion, a PE ratio of 50.56, a P/E/G ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a twelve month low of $132.70 and a twelve month high of $182.89. The company has a 50-day moving average price of $164.60 and a two-hundred day moving average price of $167.63.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $1.55 dividend. 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 3.64%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Guggenheim upped their target price 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 target price for the company in a research note on Wednesday, June 5th. 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 research note on Monday, April 29th. Piper Sandler increased their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Two investment 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 stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average 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.