AbbVie Inc. (NYSE:ABBV) Holdings Boosted by Hurlow Wealth Management Group Inc.

Hurlow Wealth Management Group Inc. raised its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 30.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,019 shares of the company’s stock after acquiring an additional 1,168 shares during the quarter. Hurlow Wealth Management Group Inc.’s holdings in AbbVie were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Castle Financial & Retirement Planning Associates Inc. acquired a new stake in shares of AbbVie during the 4th quarter valued at $25,000. Intelligent Financial Strategies bought a new position in shares of AbbVie during the 4th quarter worth about $27,000. Psagot Value Holdings Ltd. Israel increased its holdings in shares of AbbVie by 311.3% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock worth $28,000 after purchasing an additional 3,300 shares during the period. GoalVest Advisory LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at about $33,000. Finally, Joseph P. Lucia & Associates LLC acquired a new position in AbbVie in the first quarter valued at about $34,000. Institutional investors and hedge funds own 68.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ABBV shares. Piper Sandler reduced their target price on shares of AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. Argus lowered their target price on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, August 24th. Barclays lowered their target price on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Atlantic Securities reduced their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, August 1st. Finally, Morgan Stanley reduced their target price on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $159.35.

AbbVie Stock Performance

Shares of ABBV opened at $144.06 on Monday. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. The stock has a 50 day moving average price of $142.80 and a two-hundred day moving average price of $149.78. The firm has a market capitalization of $254.71 billion, a P/E ratio of 20.41, a P/E/G ratio of 4.04 and a beta of 0.72. AbbVie Inc. has a 52 week low of $105.56 and a 52 week high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last released its earnings results on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.42 by $0.09. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. AbbVie’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.11 earnings per share. Equities analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, October 13th. AbbVie’s dividend payout ratio is presently 79.89%.

About AbbVie

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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