Altrius Capital Management Inc Acquires 631 Shares of AbbVie Inc. (NYSE:ABBV)

Altrius Capital Management Inc lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,162 shares of the company’s stock after buying an additional 631 shares during the quarter. Altrius Capital Management Inc’s holdings in AbbVie were worth $2,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kalos Management Inc. acquired a new position in shares of AbbVie during the first quarter worth approximately $26,000. Miller Wealth Advisors LLC lifted its holdings in AbbVie by 140.0% during the 2nd quarter. Miller Wealth Advisors LLC now owns 240 shares of the company’s stock worth $32,000 after buying an additional 140 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in AbbVie during the 2nd quarter worth $39,000. True Wealth Design LLC bought a new position in AbbVie in the 4th quarter valued at $39,000. Finally, PrairieView Partners LLC increased its stake in shares of AbbVie by 346.7% in the 2nd quarter. PrairieView Partners LLC now owns 335 shares of the company’s stock valued at $45,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 67.86% of the company’s stock.

AbbVie Stock Down 0.2 %

ABBV stock traded down $0.30 during mid-day trading on Monday, hitting $138.00. 1,220,280 shares of the company were exchanged, compared to its average volume of 5,508,937. The company has a debt-to-equity ratio of 4.59, a quick ratio of 0.84 and a current ratio of 0.96. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $168.11. The firm’s 50 day simple moving average is $146.58 and its 200 day simple moving average is $143.95. The firm has a market cap of $243.64 billion, a P/E ratio of 37.89, a P/E/G ratio of 2.45 and a beta of 0.51.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.09. The business had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.72 billion. AbbVie had a net margin of 11.81% and a return on equity of 152.70%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the business posted $3.66 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 11.24 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be paid a dividend of $1.55 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.48. This represents a $6.20 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Friday, January 12th. AbbVie’s dividend payout ratio (DPR) is currently 169.86%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ABBV. UBS Group decreased their price target on AbbVie from $157.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of AbbVie in a research note on Thursday, November 9th. They issued a “hold” rating and a $150.00 target price on the stock. StockNews.com assumed coverage on shares of AbbVie in a research note on Thursday, October 5th. They set a “strong-buy” rating for the company. Morgan Stanley raised their price objective on shares of AbbVie from $193.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, Barclays raised shares of AbbVie from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $160.00 to $170.00 in a report on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $167.69.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.