RBA Wealth Management LLC Acquires 406 Shares of AbbVie Inc. (NYSE:ABBV)

RBA Wealth Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,722 shares of the company’s stock after acquiring an additional 406 shares during the period. RBA Wealth Management LLC’s holdings in AbbVie were worth $3,174,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Castle Financial & Retirement Planning Associates Inc. purchased a new position in AbbVie during the fourth quarter worth about $25,000. Intelligent Financial Strategies purchased a new position in AbbVie during the fourth quarter worth about $27,000. Psagot Value Holdings Ltd. Israel boosted its holdings in AbbVie by 311.3% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock worth $28,000 after purchasing an additional 3,300 shares during the last quarter. GoalVest Advisory LLC purchased a new position in AbbVie during the first quarter worth about $33,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in AbbVie during the first quarter worth about $34,000. 68.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

AbbVie Stock Performance

AbbVie stock opened at $144.06 on Monday. The firm’s 50 day simple moving average is $142.80 and its 200 day simple moving average is $149.78. 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 firm has a market capitalization of $254.71 billion, a PE ratio of 20.41, a price-to-earnings-growth 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.

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

AbbVie Announces Dividend

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

AbbVie Company Profile

(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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