Mayfair Advisory Group LLC Buys 100 Shares of AbbVie Inc. (NYSE:ABBV)

Mayfair Advisory Group LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 6.6% during the first quarter, Holdings Channel reports. The firm owned 1,620 shares of the company’s stock after acquiring an additional 100 shares during the period. Mayfair Advisory Group LLC’s holdings in AbbVie were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ABBV. Schonfeld Strategic Advisors LLC increased its position in shares of AbbVie by 195.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 4,890 shares of the company’s stock worth $729,000 after purchasing an additional 3,235 shares during the period. Lazard Asset Management LLC grew its position in AbbVie by 95.1% in the third quarter. Lazard Asset Management LLC now owns 195,048 shares of the company’s stock valued at $29,073,000 after acquiring an additional 95,057 shares during the last quarter. First National Bank of Omaha grew its position in AbbVie by 7.9% in the third quarter. First National Bank of Omaha now owns 8,460 shares of the company’s stock valued at $1,261,000 after acquiring an additional 620 shares during the last quarter. Axxcess Wealth Management LLC grew its position in AbbVie by 93.1% in the third quarter. Axxcess Wealth Management LLC now owns 64,426 shares of the company’s stock valued at $9,603,000 after acquiring an additional 31,054 shares during the last quarter. Finally, Avenir Corp bought a new position in AbbVie in the third quarter valued at about $218,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBV shares. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Wednesday, June 5th. Piper Sandler lifted their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Trading Up 1.5 %

ABBV stock traded up $2.53 during trading on Friday, hitting $171.52. The company had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. The business has a 50-day moving average of $164.60 and a 200-day moving average of $167.63. AbbVie Inc. has a one year low of $132.13 and a one 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 2.19 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 11.27 earnings per share 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 $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s 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.