Comprehensive Financial Consultants Institutional Inc. Takes $234,000 Position in AbbVie Inc. (NYSE:ABBV)

Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,287 shares of the company’s stock, valued at approximately $234,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares in the last quarter. Capital International Investors grew its holdings in AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 in the last quarter. Norges Bank bought a new position in AbbVie in the 4th quarter worth approximately $3,229,888,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in AbbVie by 39.6% in 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 buying an additional 2,390,239 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 1.0 %

Shares of ABBV traded up $1.59 during mid-day trading on Tuesday, reaching $168.11. The company’s stock had a trading volume of 4,224,568 shares, compared to its average volume of 5,632,623. The business has a fifty day moving average of $164.79 and a 200 day moving average of $168.27. The company has a market cap of $296.86 billion, a price-to-earnings ratio of 49.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.64. AbbVie Inc. has a 1 year low of $132.70 and a 1 year high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last released its 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 company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 10.71 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm 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 $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.69%. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. BMO Capital Markets decreased their price target on 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 reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Tuesday, July 2nd. Guggenheim increased their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, HSBC raised 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. Two equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.07.

About AbbVie

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.