Embree Financial Group Has $3.68 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Embree Financial Group lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,196 shares of the company’s stock after selling 75 shares during the period. AbbVie makes up approximately 0.7% of Embree Financial Group’s holdings, making the stock its 28th largest position. Embree Financial Group’s holdings in AbbVie were worth $3,678,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ABBV. Lokken Investment Group LLC grew its holdings in AbbVie by 3.6% in the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after acquiring an additional 58 shares during the last quarter. Arcadia Investment Management Corp MI grew its holdings in AbbVie by 0.6% in the 1st quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock worth $1,706,000 after acquiring an additional 59 shares during the last quarter. Aspen Wealth Strategies LLC grew its holdings in AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares during the last quarter. Marks Group Wealth Management Inc boosted its stake in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after purchasing an additional 63 shares in the last quarter. Finally, Spinnaker Investment Group LLC boosted its stake in shares of AbbVie by 1.6% during the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock valued at $741,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Tuesday. Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

AbbVie Price Performance

ABBV stock traded up $0.09 during trading on Wednesday, hitting $168.14. 3,837,226 shares of the company’s stock traded hands, compared to its average volume of 5,619,299. AbbVie Inc. has a 52 week low of $132.70 and a 52 week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The business has a fifty day simple moving average of $164.92 and a 200 day simple moving average of $168.27. The stock has a market capitalization of $296.91 billion, a price-to-earnings ratio of 49.89, a P/E/G ratio of 2.26 and a beta of 0.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 10.61 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.69%. AbbVie’s payout ratio is 183.98%.

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.