AbbVie Inc. $ABBV Shares Bought by Integrated Advisors Network LLC

Integrated Advisors Network LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 30.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 47,509 shares of the company’s stock after purchasing an additional 11,057 shares during the period. Integrated Advisors Network LLC’s holdings in AbbVie were worth $10,333,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kiley Juergens Wealth Management LLC acquired a new stake in shares of AbbVie during the 1st quarter worth about $1,587,000. Walser Wealth Management Company A Ltd Liability Co purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $336,000. Collaborative Fund Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter worth approximately $551,000. Arbor Investment Advisors LLC raised its holdings in shares of AbbVie by 32.8% in the 1st quarter. Arbor Investment Advisors LLC now owns 1,921 shares of the company’s stock valued at $418,000 after buying an additional 475 shares during the period. Finally, Planning Center Inc. increased its stake in AbbVie by 3.9% during the 1st quarter. Planning Center Inc. now owns 1,343 shares of the company’s stock worth $292,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.2%

Shares of AbbVie stock opened at $257.88 on Tuesday. The company has a 50-day moving average of $221.27 and a two-hundred day moving average of $220.47. The stock has a market cap of $455.62 billion, a PE ratio of 127.03, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. AbbVie Inc. has a 12-month low of $184.63 and a 12-month high of $261.64.

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

AbbVie Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. HSBC reaffirmed a “buy” rating and issued a $300.00 target price on shares of AbbVie in a report on Monday. Wells Fargo & Company set a $260.00 price target on AbbVie in a research report on Monday, June 22nd. Canaccord Genuity Group increased their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Piper Sandler reissued an “overweight” rating and set a $298.00 price objective on shares of AbbVie in a research report on Tuesday, June 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $256.67.

AbbVie Company Profile

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.