Jackson Thornton Wealth Management LLC Buys 173 Shares of AbbVie Inc. (NYSE:ABBV)

Jackson Thornton Wealth Management LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 14.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,373 shares of the company’s stock after purchasing an additional 173 shares during the period. Jackson Thornton Wealth Management LLC’s holdings in AbbVie were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in AbbVie during the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the 4th quarter worth $32,000. Pinney & Scofield Inc. acquired a new position in AbbVie during the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new position in AbbVie during the 1st quarter worth $42,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ABBV. Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Bank of America upped their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, Morgan Stanley increased their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

ABBV stock opened at $189.50 on Friday. The stock has a 50-day moving average price of $187.37 and a two-hundred day moving average price of $188.46. The stock has a market cap of $334.73 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1 year low of $163.63 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is 279.15%.

AbbVie Company 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.