Collaborative Fund Advisors LLC Invests $551,000 in AbbVie Inc. $ABBV

Collaborative Fund Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,533 shares of the company’s stock, valued at approximately $551,000.

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

AbbVie Price Performance

Shares of AbbVie stock opened at $260.88 on Monday. The firm has a market cap of $460.92 billion, a price-to-earnings ratio of 128.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30. The stock’s 50-day moving average is $220.19 and its 200-day moving average is $220.25. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. 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 dividend payout ratio (DPR) is currently 340.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ABBV shares. Piper Sandler reaffirmed an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a research note on Tuesday, June 23rd. Canaccord Genuity Group lifted their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Morgan Stanley boosted their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Guggenheim restated a “buy” rating and issued a $249.00 price objective on shares of AbbVie in a research report on Friday, May 1st. Finally, DZ Bank raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.81.

About AbbVie

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.