Avior Wealth Management LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Avior Wealth Management LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,777 shares of the company’s stock after acquiring an additional 3,237 shares during the quarter. Avior Wealth Management LLC’s holdings in AbbVie were worth $8,882,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. American National Bank raised its stake in AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after buying an additional 2,695 shares during the last quarter. AXS Investments LLC increased its position in 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 during the last quarter. TCI Wealth Advisors Inc. lifted its holdings in AbbVie by 1.0% in 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 during the period. Mizuho Markets Americas LLC lifted its holdings in AbbVie by 33.4% in 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 during the period. Finally, Amplius Wealth Advisors LLC boosted its position in AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after purchasing an additional 400 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ABBV shares. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler reiterated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Tuesday. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday. Finally, BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Two investment 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 data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $181.07.

AbbVie Price Performance

ABBV traded up $3.41 during trading on Friday, reaching $167.25. 5,978,524 shares of the company traded hands, compared to its average volume of 5,658,405. AbbVie Inc. has a 12-month low of $132.70 and a 12-month high of $182.89. The firm has a fifty day simple moving average of $164.58 and a 200 day simple moving average of $167.87. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company has a market cap of $295.34 billion, a P/E ratio of 49.63, a PEG ratio of 2.10 and a beta of 0.64.

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

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 3.71%. 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.