PRW Wealth Management LLC acquired a new position in shares of AbbVie Inc (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 598 shares of the company’s stock, valued at approximately $55,000.
Several other large investors have also modified their holdings of ABBV. Prime Capital Investment Advisors LLC acquired a new position in AbbVie in the 4th quarter valued at about $27,000. Penserra Capital Management LLC acquired a new position in AbbVie in the 4th quarter valued at about $32,000. Larson Financial Group LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $37,000. Horrell Capital Management Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at about $41,000. Finally, Portfolio Solutions LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $46,000. 70.53% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. BMO Capital Markets upgraded AbbVie from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Argus cut AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Barclays reiterated a “hold” rating and issued a $86.00 price objective on shares of AbbVie in a research note on Thursday, February 14th. Finally, Credit Suisse Group set a $79.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Friday, January 25th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. AbbVie has an average rating of “Hold” and an average target price of $94.95.
ABBV stock opened at $79.50 on Friday. The company has a market cap of $116.46 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. AbbVie Inc has a fifty-two week low of $75.62 and a fifty-two week high of $107.25.
AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.08. The firm had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.87 earnings per share. As a group, analysts forecast that AbbVie Inc will post 8.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 15th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 5.38%. The ex-dividend date was Friday, April 12th. AbbVie’s payout ratio is 54.11%.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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