7,762 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by FCG Investment Co

FCG Investment Co bought a new stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,762 shares of the company’s stock, valued at approximately $1,413,000. AbbVie accounts for approximately 1.1% of FCG Investment Co’s investment portfolio, making the stock its 26th largest holding.

A number of other large investors also recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the 4th quarter worth $26,000. IFS Advisors LLC purchased a new position in AbbVie during the 1st quarter valued at about $36,000. Redmont Wealth Advisors LLC acquired a new position in AbbVie during the first quarter worth about $37,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $33,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of AbbVie during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. HSBC upgraded 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. Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday. Two research 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. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

AbbVie Trading Down 1.3 %

Shares of ABBV opened at $163.84 on Friday. AbbVie Inc. has a one year low of $132.70 and a one year high of $182.89. The stock has a 50-day moving average price of $164.43 and a 200 day moving average price of $167.77. 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 capitalization of $289.32 billion, a P/E ratio of 48.62, a P/E/G ratio of 2.10 and a beta of 0.64.

AbbVie (NYSE:ABBV) last released its 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 company 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 business’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. Sell-side 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. Stockholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is currently 183.98%.

About AbbVie

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.