United Community Bank Boosts Position in AbbVie Inc. (NYSE:ABBV)

United Community Bank grew its stake in AbbVie Inc. (NYSE:ABBV) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,439 shares of the company’s stock after purchasing an additional 497 shares during the period. United Community Bank’s holdings in AbbVie were worth $1,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. EnRich Financial Partners LLC increased its stake 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 acquiring 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 stake in shares of AbbVie in the 4th quarter worth approximately $32,000. Siemens Fonds Invest GmbH increased its position in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after acquiring an additional 119,141 shares during the period. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ABBV. Citigroup raised their target price on AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Bank of America raised their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. 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 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.

AbbVie Trading Down 1.4%

NYSE:ABBV opened at $192.32 on Monday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company has a 50 day simple moving average of $187.01 and a two-hundred day simple moving average of $189.11. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market cap of $339.71 billion, a PE ratio of 81.84, a price-to-earnings-growth ratio of 1.28 and a beta of 0.48.

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

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is 279.15%.

AbbVie Company Profile

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.