McGlone Suttner Wealth Management Inc. Has $2.31 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

McGlone Suttner Wealth Management Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,044 shares of the company’s stock after purchasing an additional 818 shares during the period. AbbVie accounts for 0.4% of McGlone Suttner Wealth Management Inc.’s portfolio, making the stock its 27th largest holding. McGlone Suttner Wealth Management Inc.’s holdings in AbbVie were worth $2,314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. grew its stake in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC boosted its stake in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors boosted its stake in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after buying an additional 778,126 shares in the last quarter. Norges Bank acquired a new stake in AbbVie during the fourth quarter worth $4,459,385,000. Finally, Northern Trust Corp boosted its stake in AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after buying an additional 2,299,645 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.7%

ABBV opened at $189.50 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. 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 stock’s fifty day simple moving average is $187.37 and its 200 day simple moving average is $188.56. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for 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%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABBV shares. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Citigroup upped their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

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.