Baer Investment Advisory LLC Makes New $1.87 Million Investment in AbbVie Inc. $ABBV

Baer Investment Advisory LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,582 shares of the company’s stock, valued at approximately $1,867,000.

Other large investors have also added to or reduced their stakes in the company. Chelsea Counsel Co. bought a new position in AbbVie in the 3rd quarter worth $26,000. Litman Gregory Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter worth $28,000. Westend Capital Management LLC bought a new stake in AbbVie during the fourth quarter valued at about $29,000. Imprint Wealth LLC raised its holdings in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Finally, Texas Capital Bancshares Inc TX purchased a new position in shares of AbbVie in the third quarter valued at about $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $260.88 on Friday. AbbVie Inc. has a fifty-two week low of $184.63 and a fifty-two week high of $261.64. The company has a market cap of $460.92 billion, a price-to-earnings ratio of 128.51, a PEG ratio of 0.86 and a beta of 0.30. The business’s 50 day moving average price is $220.19 and its 200-day moving average price is $220.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 EPS. Sell-side analysts predict that AbbVie Inc. will post 14.28 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s payout ratio is presently 340.89%.

Analyst Ratings Changes

Several analysts recently issued reports on ABBV shares. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Sanford C. Bernstein reissued a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Wells Fargo & Company set a $260.00 price target on AbbVie in a research note on Monday, June 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $298.00 price objective on shares of AbbVie in a report on Tuesday, June 23rd. Finally, DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $253.81.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.