AbbVie Inc. (NYSE:ABBV) Shares Bought by RBA Wealth Management LLC

RBA Wealth Management LLC grew its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 20,722 shares of the company’s stock after purchasing an additional 406 shares during the quarter. RBA Wealth Management LLC’s holdings in AbbVie were worth $3,174,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ABBV. Gabelli Funds LLC increased its position in shares of AbbVie by 8.5% during the 4th quarter. Gabelli Funds LLC now owns 141,890 shares of the company’s stock valued at $19,212,000 after purchasing an additional 11,125 shares during the period. True North Advisors LLC acquired a new position in shares of AbbVie in the 4th quarter worth $872,000. Alberta Investment Management Corp grew its holdings in shares of AbbVie by 4,066.3% in the 4th quarter. Alberta Investment Management Corp now owns 95,825 shares of the company’s stock worth $12,975,000 after acquiring an additional 93,525 shares during the last quarter. Invesco Ltd. grew its holdings in shares of AbbVie by 14.4% in the 4th quarter. Invesco Ltd. now owns 5,871,724 shares of the company’s stock worth $795,033,000 after acquiring an additional 739,492 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of AbbVie by 14.5% in the 4th quarter. Schroder Investment Management Group now owns 2,290,664 shares of the company’s stock worth $310,156,000 after acquiring an additional 289,498 shares during the last quarter. 68.25% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV opened at $144.06 on Monday. The stock has a market cap of $254.71 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 4.04 and a beta of 0.72. AbbVie Inc. has a 1 year low of $105.56 and a 1 year high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. The stock has a fifty day moving average price of $142.80 and a 200 day moving average price of $149.78.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.11 earnings per share. Analysts forecast that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a dividend of $1.41 per share. The ex-dividend date is Thursday, October 13th. This represents a $5.64 dividend on an annualized basis and a yield of 3.92%. AbbVie’s payout ratio is 79.89%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ABBV shares. Argus decreased their target price on AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. Morgan Stanley decreased their target price on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a report on Monday, August 1st. Atlantic Securities decreased their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. Piper Sandler decreased their target price on AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Finally, Barclays decreased their target price on AbbVie to $160.00 in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.35.

About AbbVie

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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