Jackson Thornton Wealth Management LLC Has $288,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

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

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in AbbVie by 0.8% during 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 raised its position in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors raised its position in shares of AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after buying an additional 778,126 shares in the last quarter. Norges Bank acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $4,459,385,000. Finally, Northern Trust Corp raised its position in shares of AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock valued at $3,878,236,000 after buying an additional 2,299,645 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE ABBV opened at $189.50 on Friday. The firm’s fifty day moving average price is $187.37 and its two-hundred day moving average price is $188.46. The stock has a market cap of $334.73 billion, a PE ratio of 80.64, a PEG ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a fifty-two week low of $163.63 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. 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 research report on Monday, April 28th. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Finally, Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

About AbbVie

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.