McKinley Carter Wealth Services Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,798 shares of the company’s stock after acquiring an additional 110 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in AbbVie were worth $3,315,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of ABBV. Align Wealth Management LLC bought a new stake in shares of AbbVie in the fourth quarter worth approximately $27,000. Red Tortoise LLC bought a new stake in shares of AbbVie in the fourth quarter worth approximately $27,000. Boulder Wealth Advisors LLC bought a new stake in shares of AbbVie in the fourth quarter worth approximately $31,000. My Personal CFO LLC bought a new stake in shares of AbbVie in the fourth quarter worth approximately $32,000. Finally, VitalStone Financial LLC bought a new stake in shares of AbbVie in the fourth quarter worth approximately $37,000. 68.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on ABBV. Barclays lifted their price target on shares of AbbVie from $155.00 to $160.00 in a research note on Wednesday, April 12th. Guggenheim dropped their price objective on shares of AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. Wells Fargo & Company dropped their price objective on shares of AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. StockNews.com initiated coverage on shares of AbbVie in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Finally, Morgan Stanley raised their price objective on shares of AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.
Insider Buying and Selling at AbbVie
AbbVie Trading Down 1.3 %
Shares of ABBV opened at $135.50 on Monday. The company’s fifty day moving average is $140.00 and its 200 day moving average is $149.96. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $168.11. The stock has a market capitalization of $239.06 billion, a PE ratio of 32.03, a P/E/G ratio of 2.47 and a beta of 0.56. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.82 and a current ratio of 0.96.
AbbVie (NYSE:ABBV – Free Report) last posted its quarterly earnings data on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.02. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The business had revenue of $12.23 billion for the quarter, compared to analysts’ expectations of $12.23 billion. During the same quarter in the previous year, the business posted $3.16 earnings per share. The business’s revenue was down 9.7% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc. will post 10.92 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, July 13th. AbbVie’s dividend payout ratio (DPR) is 139.95%.
About AbbVie
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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