PFG Advisors has revealed in its latest filing with the Securities and Exchange Commission that it has increased its stake in AbbVie Inc. (ABBV) by 9.7% during the first quarter. The advisory firm now owns 27,004 shares of AbbVie, having purchased an additional 2,397 shares during the period. The market value of PFG Advisors’ holdings in AbbVie stands at $4,304,000, as indicated by the most recent SEC disclosure.
AbbVie Inc. Trading Down 0.3%
AbbVie Inc. commenced trading on Friday at $137.25 per share. The company’s stock has seen a twelve-month low of $130.96 and a twelve-month high of $168.11. With a market capitalization of $242.15 billion, AbbVie currently holds a price-to-earnings (P/E) ratio of 32.45, a P/E-to-growth (P/E/G) ratio of 2.46, and a beta of 0.56. Additionally, the company has a current ratio of 0.96, a quick ratio of 0.82, and a debt-to-equity ratio of 4.46. The fifty-day simple moving average for AbbVie is $140.31, while the two-hundred-day simple moving average is $150.30.
AbbVie Exceeds Earnings Estimates
In its latest earnings announcement on April 27th, AbbVie Inc. reported earnings per share of $2.46 for the quarter, surpassing the consensus estimate of $2.44 by $0.02. The company’s net margin was recorded at 13.37%, with a return on equity of 153.92%. However, AbbVie experienced a decline in revenue, generating $12.23 billion for the quarter compared to the consensus estimate of $12.23 billion. This represents a 9.7% decrease in revenue compared to the same quarter in the previous year. Analysts prediction on AbbVie Stock will achieve an EPS of 10.99 for the current year.
AbbVie Declares Quarterly Dividend
AbbVie recently announced that it will pay a quarterly dividend on Tuesday, August 15th. Shareholders of record on Friday, July 14th, will receive a $1.48 dividend. This equates to an annualized dividend of $5.92 and a dividend yield of 4.31%. Currently, AbbVie’s payout ratio stands at 139.95%.
AbbVie Inc Stock Forecast
Analysts forecast an average target price of $168.43 for AbbVie Inc. over the next 12 months, based on predictions from 12 analysts. The average analyst rating for AbbVie is Strong Buy. Stock Target Advisor’s analysis of AbbVie Inc. indicates a Neutral stance, with 7 positive signals and 8 negative signals. As of the latest closing, AbbVie Inc.’s stock price was $137.25, reflecting a 3.02% increase over the past week, a 1.34% increase over the past month, and a 10.02% decrease over the last year.
