AbbVie Inc. $ABBV Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,104 shares of the company’s stock after acquiring an additional 6,079 shares during the quarter. HB Wealth Management LLC’s holdings in AbbVie were worth $30,689,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Chelsea Counsel Co. purchased a new position in AbbVie in the third quarter valued at $26,000. Litman Gregory Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter worth about $28,000. Westend Capital Management LLC purchased a new stake in AbbVie during the 4th quarter worth about $29,000. Imprint Wealth LLC boosted its position in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX acquired a new position in shares of AbbVie during the 3rd quarter worth about $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABBV shares. Bank of America raised AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a research report on Thursday, April 30th. William Blair reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Wells Fargo & Company set a $260.00 price target on shares of AbbVie in a research note on Monday, June 22nd. Guggenheim reissued a “buy” rating and set a $249.00 price objective on shares of AbbVie in a report on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.81.

AbbVie Stock Performance

ABBV opened at $260.88 on Friday. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64. The stock has a market capitalization of $460.92 billion, a P/E ratio of 128.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. The business’s 50-day simple moving average is $220.19 and its 200-day simple moving average is $220.30.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 14.28 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio is presently 340.89%.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.