1,164 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Lockerman Financial Group Inc.

Lockerman Financial Group Inc. bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, HoldingsChannel reports. The institutional investor bought 1,164 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also bought and sold shares of ABBV. Lokken Investment Group LLC increased its stake in shares of 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 purchasing an additional 58 shares in the last quarter. Aspen Wealth Strategies LLC raised its stake in shares of AbbVie by 0.5% in the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after buying an additional 61 shares during the period. Marks Group Wealth Management Inc grew 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 acquiring an additional 63 shares during the period. Avion Wealth increased its holdings in AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares in the last quarter. Finally, White Pine Capital LLC raised its stake in AbbVie by 1.2% during the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after acquiring an additional 65 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 1.3 %

Shares of NYSE ABBV traded down $2.16 during trading hours on Thursday, hitting $168.99. 4,960,941 shares of the company traded hands, compared to its average volume of 5,520,492. The stock has a market capitalization of $298.41 billion, a price-to-earnings ratio of 50.17, a price-to-earnings-growth ratio of 2.18 and a beta of 0.60. The company’s 50 day moving average price is $164.41 and its 200 day moving average price is $167.29. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. 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 announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.67%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays cut their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note 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 note on Friday, March 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. BMO Capital Markets dropped their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Piper Sandler lifted their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Two investment 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 company’s stock. Based on data from MarketBeat, the company presently has an average 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.