Tarbox Family Office Inc. Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Tarbox Family Office Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,639 shares of the company’s stock after buying an additional 4,200 shares during the period. AbbVie comprises about 1.4% of Tarbox Family Office Inc.’s investment portfolio, making the stock its 14th biggest holding. Tarbox Family Office Inc.’s holdings in AbbVie were worth $7,947,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the 4th quarter worth $26,000. Able Wealth Management LLC bought a new position in AbbVie in the 4th quarter worth $33,000. IFS Advisors LLC bought a new position in shares of AbbVie in the 1st quarter worth about $36,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of AbbVie in the 4th quarter worth about $37,000. Finally, Clarity Asset Management Inc. bought a new position in shares of AbbVie in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $2.16 during trading on Thursday, reaching $168.99. 4,960,941 shares of the company traded hands, compared to its average volume of 5,520,492. The firm has a 50 day simple moving average of $164.41 and a 200-day simple moving average of $167.29. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The stock has a market capitalization of $298.41 billion, a PE ratio of 50.17, a P/E/G ratio of 2.18 and a beta of 0.60. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

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. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 EPS. Equities research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

ABBV has been the subject of several research reports. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Piper Sandler increased their price target on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Barclays decreased their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $179.64.

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.