YHB Investment Advisors Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,543 shares of the company’s stock after buying an additional 501 shares during the quarter. YHB Investment Advisors Inc.’s holdings in AbbVie were worth $5,903,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Thrive Wealth Management LLC boosted its holdings in shares of AbbVie by 10.3% during the second quarter. Thrive Wealth Management LLC now owns 3,391 shares of the company’s stock worth $519,000 after acquiring an additional 318 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of AbbVie by 2.5% during the second quarter. Sound Income Strategies LLC now owns 84,866 shares of the company’s stock worth $12,998,000 after acquiring an additional 2,058 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of AbbVie by 2.9% during the second quarter. Parkside Financial Bank & Trust now owns 8,697 shares of the company’s stock worth $1,332,000 after acquiring an additional 242 shares during the period. Minot Wealth Management LLC boosted its stake in shares of AbbVie by 1.2% in the first quarter. Minot Wealth Management LLC now owns 66,161 shares of the company’s stock valued at $10,725,000 after buying an additional 800 shares during the period. Finally, Eudaimonia Partners LLC bought a new stake in shares of AbbVie in the first quarter valued at approximately $4,231,000. Institutional investors and hedge funds own 68.25% of the company’s stock.
Wall Street Analysts Forecast Growth
ABBV has been the subject of several recent research reports. UBS Group cut their price target on AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a research note on Monday, August 1st. Barclays lowered their price objective on shares of AbbVie to $160.00 in a research report on Tuesday, August 9th. Atlantic Securities lowered their price objective on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, August 1st. Morgan Stanley lowered their price objective on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a research report on Monday, August 1st. Finally, Piper Sandler lowered their price objective on shares of AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.35.
AbbVie Stock Performance
AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. The business had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.11 earnings per share. As a group, analysts predict that AbbVie Inc. will post 14.05 EPS for the current year.
AbbVie Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.94%. AbbVie’s dividend payout ratio (DPR) is presently 79.89%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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