FSA Advisors Inc. Takes Position in AbbVie Inc. (NYSE:ABBV)

FSA Advisors Inc. bought a new stake in AbbVie Inc. (NYSE:ABBV) in the first quarter, HoldingsChannel.com reports. The firm bought 1,093 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors also recently modified their holdings of ABBV. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the period. Abound Financial LLC bought a new stake in AbbVie during the first quarter worth about $30,000. Siemens Fonds Invest GmbH lifted its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the period. Cypress Capital Management LLC WY bought a new stake in AbbVie during the first quarter worth about $35,000. Finally, Pinney & Scofield Inc. bought a new stake in AbbVie during the fourth quarter worth about $36,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Morgan Stanley increased their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Stock Performance

AbbVie stock opened at $191.29 on Wednesday. The business has a 50 day moving average of $187.81 and a 200-day moving average of $189.95. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. 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 company has a market capitalization of $337.90 billion, a P/E ratio of 81.40, a P/E/G ratio of 1.24 and a beta of 0.48.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio 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.