AbbVie Inc. (NYSE:ABBV) Position Lifted by Colorado Capital Management Inc.

Colorado Capital Management Inc. increased its position in AbbVie Inc. (NYSE:ABBV) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,485 shares of the company’s stock after acquiring an additional 111 shares during the period. Colorado Capital Management Inc.’s holdings in AbbVie were worth $270,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the 4th quarter valued at about $26,000. IFS Advisors LLC bought a new position in AbbVie in the 1st quarter valued at about $36,000. Able Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of AbbVie during the 4th quarter valued at about $37,000. Finally, Clarity Asset Management Inc. purchased a new position in shares of AbbVie in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABBV. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. BMO Capital Markets reduced their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Barclays dropped their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Stock Performance

ABBV stock opened at $169.35 on Friday. The company has a 50 day moving average price of $164.41 and a 200 day moving average price of $167.29. The stock has a market capitalization of $299.05 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a fifty-two week low of $132.13 and a fifty-two week 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.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the business posted $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 annualized dividend and a yield of 3.66%. AbbVie’s dividend payout ratio is presently 183.98%.

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.