Hoxton Planning & Management LLC Has $280,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Hoxton Planning & Management LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 11.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,537 shares of the company’s stock after acquiring an additional 162 shares during the quarter. Hoxton Planning & Management LLC’s holdings in AbbVie were worth $280,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABBV. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Piper Sandler boosted their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. Finally, BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Price Performance

NYSE ABBV traded up $0.51 during trading on Wednesday, reaching $171.26. The company’s stock had a trading volume of 1,084,891 shares, compared to its average volume of 5,487,819. 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 capitalization of $302.42 billion, a PE ratio of 50.69, a P/E/G ratio of 2.21 and a beta of 0.60. The firm has a fifty day moving average of $164.27 and a 200 day moving average of $167.26. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $2.46 EPS. Analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

AbbVie Company Profile

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.