WoodTrust Financial Corp Makes New $526,000 Investment in AbbVie Inc. (NYSE:ABBV)

WoodTrust Financial Corp bought a new position in AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,888 shares of the company’s stock, valued at approximately $526,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in AbbVie in the 4th quarter worth approximately $3,229,888,000. International Assets Investment Management LLC bought a new stake in AbbVie in the 4th quarter worth about $499,955,000. Capital International Investors raised its position in AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in AbbVie by 39.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after acquiring an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after acquiring an additional 1,702,415 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. Piper Sandler boosted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Finally, Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Price Performance

Shares of NYSE:ABBV traded up $2.53 during trading on Friday, reaching $171.52. The stock had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a 1-year low of $132.13 and a 1-year high of $182.89. The stock has a market cap of $302.88 billion, a PE ratio of 50.90, a PEG ratio of 2.16 and a beta of 0.60. The business has a fifty day moving average price of $164.60 and a 200-day moving average price of $167.54.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 EPS. On average, equities analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

AbbVie 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.