RVW Wealth LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,201 shares of the company’s stock after acquiring an additional 81 shares during the quarter. RVW Wealth LLC’s holdings in AbbVie were worth $701,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Johnson & White Wealth Management LLC bought a new stake in AbbVie during the 1st quarter valued at approximately $721,000. Sand Hill Global Advisors LLC boosted its stake in AbbVie by 0.4% during the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after purchasing an additional 68 shares during the period. Chesapeake Wealth Management boosted its stake in AbbVie by 21.4% during the 4th quarter. Chesapeake Wealth Management now owns 13,083 shares of the company’s stock valued at $2,114,000 after purchasing an additional 2,305 shares during the period. Quintet Private Bank Europe S.A. bought a new stake in AbbVie during the 1st quarter valued at approximately $6,686,000. Finally, Capital Market Strategies LLC boosted its stake in AbbVie by 5.0% during the 1st quarter. Capital Market Strategies LLC now owns 12,027 shares of the company’s stock valued at $1,917,000 after purchasing an additional 575 shares during the period. Institutional investors own 67.86% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. Piper Jaffray Companies upped their price target on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 28th. StockNews.com assumed coverage on AbbVie in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. HSBC assumed coverage on AbbVie in a report on Friday, July 14th. They issued a “buy” rating and a $167.00 price target for the company. Finally, Credit Suisse Group cut their price target on AbbVie from $170.00 to $160.00 in a report on Wednesday, July 12th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.79.
AbbVie Trading Down 1.0 %
ABBV stock opened at $152.09 on Friday. The business has a fifty day moving average price of $146.09 and a 200 day moving average price of $147.56. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $168.11. The stock has a market capitalization of $268.45 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 2.74 and a beta of 0.58. The company has a debt-to-equity ratio of 4.33, a current ratio of 0.89 and a quick ratio of 0.77.
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.12. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $13.52 billion. Analysts expect that AbbVie Inc. will post 11.03 EPS for the current fiscal year.
AbbVie Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a $1.48 dividend. The ex-dividend date is Thursday, October 12th. This represents a $5.92 dividend on an annualized basis and a yield of 3.89%. AbbVie’s payout ratio is 121.81%.
Insider Buying and Selling at AbbVie
In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $149.15, for a total value of $2,759,275.00. Following the transaction, the chief executive officer now directly owns 625,294 shares in the company, valued at approximately $93,262,600.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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