Financial Partners Group LLC Purchases 236 Shares of AbbVie Inc. (NYSE:ABBV)

Financial Partners Group LLC lifted its position in AbbVie Inc. (NYSE:ABBVFree Report) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,392 shares of the company’s stock after purchasing an additional 236 shares during the period. Financial Partners Group LLC’s holdings in AbbVie were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank boosted its holdings in shares of AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares during the last quarter. AXS Investments LLC grew its holdings in AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after buying an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in AbbVie by 1.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after acquiring an additional 165 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after acquiring an additional 7,737 shares in the last quarter. Finally, Amplius Wealth Advisors LLC raised its holdings in shares of AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after acquiring an additional 400 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.5 %

NYSE ABBV traded up $2.53 on Friday, hitting $171.52. The stock had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. AbbVie Inc. has a 52-week low of $132.13 and a 52-week high of $182.89. The business’s fifty day moving average price is $164.60 and its 200 day moving average price is $167.63. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60.

AbbVie (NYSE:ABBVGet Free Report) last announced its 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. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the business earned $2.46 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.61%. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research reports. Piper Sandler boosted their price target on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $179.64.

Check Out Our Latest Report on AbbVie

AbbVie Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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