Optas LLC Buys 355 Shares of AbbVie Inc. (NYSE:ABBV)

Optas LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,582 shares of the company’s stock after acquiring an additional 355 shares during the quarter. Optas LLC’s holdings in AbbVie were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $33,000. IFS Advisors LLC bought a new stake in shares of AbbVie in the 1st quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of AbbVie in the 4th quarter worth approximately $37,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of AbbVie in the 4th quarter worth approximately $42,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.5 %

Shares of ABBV stock traded up $2.53 during mid-day trading on Friday, hitting $171.52. The company’s stock had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. The stock has a market cap of $302.88 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.19 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a 52-week low of $132.13 and a 52-week high of $182.89. The business has a 50-day moving average price of $164.60 and a 200 day moving average price of $167.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 earnings per share. Research analysts predict that AbbVie Inc. will post 11.27 EPS 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 given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. HSBC upgraded 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. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note 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 note 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $179.64.

AbbVie 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.