Larson Financial Group LLC Purchases 2,505 Shares of AbbVie Inc. (NYSE:ABBV)

Larson Financial Group LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 88.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,340 shares of the company’s stock after acquiring an additional 2,505 shares during the period. Larson Financial Group LLC’s holdings in AbbVie were worth $972,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $3,229,888,000. International Assets Investment Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at $499,955,000. Capital International Investors boosted its stake in shares of AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after purchasing an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of AbbVie by 39.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after purchasing an additional 2,390,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.1 %

Shares of AbbVie stock traded up $0.09 during trading hours on Wednesday, reaching $168.14. 3,858,799 shares of the company’s stock were exchanged, compared to its average volume of 5,619,085. 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 $296.91 billion, a price-to-earnings ratio of 49.84, a price-to-earnings-growth ratio of 2.26 and a beta of 0.64. The company has a fifty day moving average of $164.79 and a 200-day moving average of $168.27. 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 issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping 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 analyst estimates of $11.93 billion. During the same period last year, the company posted $2.46 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 10.61 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced 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. This represents a $6.20 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ABBV shares. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Tuesday, July 2nd. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Tuesday. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.07.

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.