Stillwater Wealth Management Group Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

Stillwater Wealth Management Group grew its holdings in AbbVie Inc. (NYSE:ABBV) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,251 shares of the company’s stock after purchasing an additional 812 shares during the quarter. AbbVie makes up approximately 2.9% of Stillwater Wealth Management Group’s holdings, making the stock its 8th biggest holding. Stillwater Wealth Management Group’s holdings in AbbVie were worth $3,405,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Abound Financial LLC bought a new position in AbbVie during the 1st quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new position in AbbVie during the 4th quarter worth approximately $32,000. Siemens Fonds Invest GmbH boosted its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after acquiring an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. bought a new position in AbbVie during the 4th quarter worth approximately $36,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $192.32 on Friday. The business has a 50 day moving average of $187.01 and a 200 day moving average of $188.98. The company has a market capitalization of $339.71 billion, a price-to-earnings ratio of 81.84, a PEG ratio of 1.29 and a beta of 0.48. 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.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.31 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio is 279.15%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Finally, BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average 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.