AbbVie Inc. (NYSE:ABBV) Position Boosted by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 0.3% in the first quarter, HoldingsChannel.com reports. The firm owned 45,617 shares of the company’s stock after purchasing an additional 119 shares during the quarter. AbbVie comprises about 4.5% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Arbor Trust Wealth Advisors LLC’s holdings in AbbVie were worth $9,558,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ABBV. Yukon Wealth Management Inc. purchased a new position in AbbVie during the 1st quarter valued at approximately $324,000. TCP Asset Management LLC bought a new stake in shares of AbbVie during the 1st quarter worth approximately $221,000. DAVENPORT & Co LLC boosted its stake in shares of AbbVie by 7.7% during the first quarter. DAVENPORT & Co LLC now owns 186,321 shares of the company’s stock valued at $39,035,000 after purchasing an additional 13,308 shares during the period. Sageworth Trust Co grew its stake in AbbVie by 0.3% in the 1st quarter. Sageworth Trust Co now owns 22,009 shares of the company’s stock worth $4,611,000 after acquiring an additional 59 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its stake in AbbVie by 22.2% in the first quarter. Summit Trail Advisors LLC now owns 36,020 shares of the company’s stock worth $7,547,000 after purchasing an additional 6,544 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $189.92 on Wednesday. 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 stock has a 50-day moving average of $186.85 and a two-hundred day moving average of $188.22. The stock has a market cap of $335.47 billion, a P/E ratio of 80.82, a P/E/G ratio of 1.23 and a beta of 0.48. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating 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 firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter 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. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 279.15%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABBV. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Bank of America boosted their price target on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Finally, Evercore ISI lifted their target price on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Eight investment 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. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus 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.