FORVIS Wealth Advisors LLC Buys 1,223 Shares of AbbVie Inc. (NYSE:ABBV)

FORVIS Wealth Advisors LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 7.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,665 shares of the company’s stock after buying an additional 1,223 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in AbbVie were worth $3,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Lokken Investment Group LLC boosted its stake in shares of AbbVie by 3.6% in the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after acquiring an additional 58 shares during the period. Aspen Wealth Strategies LLC grew its holdings in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after buying an additional 61 shares in the last quarter. Marks Group Wealth Management Inc raised its position in shares of AbbVie by 2.9% during the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after buying an additional 63 shares during the last quarter. Spinnaker Investment Group LLC lifted its holdings in shares of AbbVie by 1.6% in the first quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock worth $741,000 after buying an additional 64 shares in the last quarter. Finally, Avion Wealth boosted its position in shares of AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 1.3 %

Shares of ABBV traded down $2.12 during mid-day trading on Thursday, hitting $163.84. The company’s stock had a trading volume of 3,527,612 shares, compared to its average volume of 5,996,385. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company’s 50-day moving average is $164.50 and its 200-day moving average is $167.80. AbbVie Inc. has a 52-week low of $132.70 and a 52-week high of $182.89. The firm has a market capitalization of $289.32 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 2.12 and a beta of 0.64.

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

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.78%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ABBV shares. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Thursday, June 20th. Piper Sandler reiterated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Tuesday. Finally, Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

About AbbVie

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.