Prentice Wealth Management LLC Has $1.10 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Prentice Wealth Management LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,064 shares of the company’s stock after acquiring an additional 212 shares during the period. Prentice Wealth Management LLC’s holdings in AbbVie were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. American National Bank boosted its position in AbbVie by 4.8% during the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares during the last quarter. AXS Investments LLC boosted its position in AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after purchasing an additional 165 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in AbbVie by 33.4% during the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after purchasing an additional 7,737 shares during the last quarter. Finally, Amplius Wealth Advisors LLC raised its stake in AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after buying an additional 400 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 0.6 %

NYSE ABBV traded up $1.04 during trading on Wednesday, hitting $171.79. 1,813,401 shares of the company’s stock traded hands, compared to its average volume of 5,493,790. The stock has a fifty day moving average of $164.27 and a two-hundred day moving average of $167.26. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The firm has a market cap of $303.36 billion, a P/E ratio of 50.96, a PEG ratio of 2.18 and a beta of 0.60.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the business posted $2.46 earnings per share. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler raised their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, BMO Capital Markets lowered their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $179.64.

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.