Accel Wealth Management Acquires 273 Shares of AbbVie Inc. (NYSE:ABBV)

Accel Wealth Management increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,905 shares of the company’s stock after purchasing an additional 273 shares during the period. Accel Wealth Management’s holdings in AbbVie were worth $893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Schonfeld Strategic Advisors LLC boosted its stake in AbbVie by 195.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock valued at $729,000 after acquiring an additional 3,235 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in AbbVie in the third quarter valued at approximately $215,000. JT Stratford LLC boosted its stake in AbbVie by 18.8% in the third quarter. JT Stratford LLC now owns 9,916 shares of the company’s stock valued at $1,478,000 after acquiring an additional 1,571 shares in the last quarter. Sei Investments Co. raised its holdings in shares of AbbVie by 2.8% in the third quarter. Sei Investments Co. now owns 439,996 shares of the company’s stock worth $65,586,000 after buying an additional 12,096 shares during the last quarter. Finally, Scotia Capital Inc. raised its holdings in shares of AbbVie by 0.5% in the third quarter. Scotia Capital Inc. now owns 148,329 shares of the company’s stock worth $22,110,000 after buying an additional 745 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports 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 report on Wednesday, June 5th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Tuesday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $181.07.

AbbVie Stock Down 1.3 %

ABBV stock opened at $163.84 on Friday. The firm has a market cap of $289.32 billion, a PE ratio of 48.62, a P/E/G ratio of 2.12 and a beta of 0.64. 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 firm’s fifty day moving average is $164.43 and its 200 day moving average is $167.77. AbbVie Inc. has a one year low of $132.70 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last released 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. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the business earned $2.46 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current 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. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.78%. AbbVie’s dividend payout ratio (DPR) is 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.