Buckley Wealth Management LLC Decreases Position in AbbVie Inc. (NYSE:ABBV)

Buckley Wealth Management LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,079 shares of the company’s stock after selling 178 shares during the period. AbbVie comprises 0.9% of Buckley Wealth Management LLC’s portfolio, making the stock its 24th largest position. Buckley Wealth Management LLC’s holdings in AbbVie were worth $2,928,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Lokken Investment Group LLC raised its position in shares of AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after acquiring an additional 58 shares during the last quarter. Aspen Wealth Strategies LLC raised its position in shares of AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares during the last quarter. Marks Group Wealth Management Inc grew its holdings in shares of AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after buying an additional 63 shares during the period. Avion Wealth grew its holdings in shares of AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after buying an additional 65 shares during the period. Finally, White Pine Capital LLC grew its holdings in shares of AbbVie by 1.2% in the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $2.16 on Thursday, reaching $168.99. 4,960,941 shares of the company’s stock were exchanged, compared to its average volume of 5,520,492. The company has a fifty day moving average of $164.41 and a 200-day moving average of $167.29. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a market capitalization of $298.41 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 2.18 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for 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%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. On average, research analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.67%. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. Barclays reduced their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Finally, Piper Sandler upped their target price 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. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target 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.