Hoxton Planning & Management LLC Acquires 162 Shares of AbbVie Inc. (NYSE:ABBV)

Hoxton Planning & Management LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 11.8% in the first quarter, Holdings Channel reports. The firm owned 1,537 shares of the company’s stock after buying an additional 162 shares during the period. Hoxton Planning & Management LLC’s holdings in AbbVie were worth $280,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the fourth quarter worth approximately $26,000. Able Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth approximately $33,000. IFS Advisors LLC bought a new position in AbbVie in the first quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the fourth quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. bought a new position in AbbVie in the fourth quarter worth approximately $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

NYSE:ABBV traded up $0.51 during mid-day trading on Wednesday, hitting $171.26. The company’s stock had a trading volume of 1,084,891 shares, compared to its average volume of 5,487,819. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market cap of $302.42 billion, a price-to-earnings ratio of 50.69, a PEG ratio of 2.21 and a beta of 0.60. The business’s fifty day moving average is $164.27 and its two-hundred day moving average is $167.26.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

A number of brokerages recently commented on ABBV. Piper Sandler boosted their price objective on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

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.