Wambolt & Associates LLC boosted its position in AbbVie Inc. (NYSE:ABBV – Get Rating) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,401 shares of the company’s stock after acquiring an additional 742 shares during the quarter. AbbVie accounts for approximately 1.6% of Wambolt & Associates LLC’s portfolio, making the stock its 7th largest holding. Wambolt & Associates LLC’s holdings in AbbVie were worth $3,890,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC increased its stake in AbbVie by 80.6% in the second quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock valued at $27,000 after acquiring an additional 79 shares during the last quarter. GoalVest Advisory LLC bought a new position in shares of AbbVie during the first quarter valued at about $33,000. Joseph P. Lucia & Associates LLC bought a new position in shares of AbbVie during the first quarter valued at about $34,000. Cordant Inc. bought a new position in shares of AbbVie during the first quarter valued at about $42,000. Finally, Monumental Financial Group Inc. bought a new position in shares of AbbVie during the first quarter valued at about $52,000. Institutional investors own 68.25% of the company’s stock.
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Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. SVB Leerink reduced their price objective on AbbVie from $140.00 to $135.00 and set an “underperform” rating on the stock in a research note on Friday, September 30th. Atlantic Securities reduced their price objective on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Argus reduced their price objective on AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. UBS Group reduced their price objective on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Finally, Barclays dropped their target price on shares of AbbVie to $160.00 in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.88.
AbbVie Stock Performance
Shares of ABBV opened at $142.94 on Monday. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.84 and a quick ratio of 0.75. AbbVie Inc. has a one year low of $106.86 and a one year high of $175.91. The company has a 50-day simple moving average of $140.28 and a two-hundred day simple moving average of $147.67. The firm has a market capitalization of $252.73 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 4.07 and a beta of 0.67.
AbbVie (NYSE:ABBV – Get Rating) last announced its earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the firm earned $3.11 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 14.06 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Thursday, October 13th. AbbVie’s dividend payout ratio is 79.89%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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