AbbVie Inc. (NYSE:ABBV) Shares Bought by PAX Financial Group LLC

PAX Financial Group LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 27.7% in the first quarter, HoldingsChannel reports. The fund owned 2,731 shares of the company’s stock after purchasing an additional 592 shares during the period. PAX Financial Group LLC’s holdings in AbbVie were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. EnRich Financial Partners LLC lifted its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Abound Financial LLC acquired a new position in AbbVie in the first quarter valued at approximately $30,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $32,000. Siemens Fonds Invest GmbH lifted its holdings in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after acquiring an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 2.6%

NYSE ABBV opened at $186.56 on Wednesday. The business has a fifty day moving average price of $186.90 and a 200 day moving average price of $189.19. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The company has a market cap of $329.53 billion, a P/E ratio of 79.39, a P/E/G ratio of 1.28 and a beta of 0.48.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. Bank of America upped their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Morgan Stanley upped their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Citigroup upped their target price on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.29.

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.