Thrive Wealth Management LLC Acquires 318 Shares of AbbVie Inc. (NYSE:ABBV)

Thrive Wealth Management LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 10.3% during the second quarter, HoldingsChannel reports. The fund owned 3,391 shares of the company’s stock after purchasing an additional 318 shares during the quarter. Thrive Wealth Management LLC’s holdings in AbbVie were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Castle Financial & Retirement Planning Associates Inc. bought a new stake in AbbVie during the 4th quarter valued at $25,000. Intelligent Financial Strategies purchased a new position in shares of AbbVie during the 4th quarter valued at $27,000. Psagot Value Holdings Ltd. Israel grew its position 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 valued at $28,000 after purchasing an additional 3,300 shares in the last quarter. GoalVest Advisory LLC purchased a new position in shares of AbbVie during the 1st quarter valued at $33,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of AbbVie during the 1st quarter valued at $34,000. Institutional investors own 68.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Barclays reduced their price target on shares of AbbVie to $160.00 in a research report on Tuesday, August 9th. UBS Group reduced their price target on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a research report on Monday, August 1st. SVB Leerink assumed coverage on shares of AbbVie in a research report on Monday, May 23rd. They issued an “underperform” rating and a $140.00 target price for the company. Argus cut their target price on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, August 24th. Finally, Piper Sandler cut their target price on shares of AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.35.

AbbVie Price Performance

ABBV stock opened at $144.06 on Monday. AbbVie Inc. has a 1 year low of $105.56 and a 1 year high of $175.91. The company has a market cap of $254.71 billion, a P/E ratio of 20.41, a PEG ratio of 4.04 and a beta of 0.72. The firm has a 50-day moving average of $142.80 and a 200 day moving average of $149.78. 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 (NYSE:ABBVGet Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the firm earned $3.11 earnings per share. AbbVie’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 14.05 EPS for the current 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 3.92%. The ex-dividend date is Thursday, October 13th. AbbVie’s dividend payout ratio is 79.89%.

AbbVie Profile

(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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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