Albion Financial Group UT Acquires 30,123 Shares of AbbVie Inc. (NYSE:ABBV)

Albion Financial Group UT raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 242.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 42,555 shares of the company’s stock after acquiring an additional 30,123 shares during the period. Albion Financial Group UT’s holdings in AbbVie were worth $7,749,000 at the end of the most recent reporting period.

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

AbbVie Stock Down 1.3 %

AbbVie stock opened at $163.84 on Thursday. AbbVie Inc. has a twelve month low of $132.70 and a twelve month high of $182.89. The stock has a market cap of $289.32 billion, a P/E ratio of 48.62, a P/E/G ratio of 2.19 and a beta of 0.64. The company’s 50-day moving average price is $164.58 and its two-hundred day moving average price is $167.82. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. As a group, analysts expect that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.78%. AbbVie’s dividend payout ratio is presently 183.98%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABBV. Piper Sandler reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Tuesday. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, HSBC raised 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $181.07.

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.