N.E.W. Advisory Services LLC Has $733,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

N.E.W. Advisory Services LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 21.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,499 shares of the company’s stock after buying an additional 623 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in AbbVie were worth $733,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Steel Grove Capital Advisors LLC grew its stake in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after purchasing an additional 52 shares in the last quarter. Peninsula Wealth LLC boosted its stake in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after acquiring an additional 54 shares during the period. Private Management Group Inc. boosted its stake in shares of AbbVie by 1.9% during the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after acquiring an additional 54 shares during the period. Connecticut Wealth Management LLC boosted its stake in shares of AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after acquiring an additional 57 shares during the period. Finally, Castle Wealth Management LLC boosted its stake in shares of AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock worth $361,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Citigroup lifted their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Bank of America lifted their price target on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Stock Down 1.0%

Shares of NYSE:ABBV opened at $188.47 on Tuesday. The company has a market capitalization of $332.91 billion, a price-to-earnings ratio of 80.20, a P/E/G ratio of 1.25 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The business’s 50-day moving average is $187.68 and its 200-day moving average is $189.94. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

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.