RMR Wealth Builders Acquires 9,051 Shares of AbbVie Inc. (NYSE:ABBV)

RMR Wealth Builders raised its stake in AbbVie Inc. (NYSE:ABBV) by 693.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,357 shares of the company’s stock after purchasing an additional 9,051 shares during the quarter. RMR Wealth Builders’ holdings in AbbVie were worth $1,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ABBV. Alpha DNA Investment Management LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $33,000. ShoreHaven Wealth Partners LLC raised its position in AbbVie by 150.4% in the first quarter. ShoreHaven Wealth Partners LLC now owns 318 shares of the company’s stock worth $35,000 after acquiring an additional 191 shares during the period. Wealthcare Capital Management LLC bought a new stake in AbbVie in the first quarter worth about $45,000. IronBridge Private Wealth LLC bought a new stake in AbbVie in the fourth quarter worth about $52,000. Finally, Prestige Wealth Management Group LLC lifted its stake in AbbVie by 50.1% in the fourth quarter. Prestige Wealth Management Group LLC now owns 542 shares of the company’s stock valued at $58,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 66.07% of the company’s stock.

Shares of NYSE:ABBV traded down $0.48 during trading on Wednesday, reaching $114.22. 93,179 shares of the company traded hands, compared to its average volume of 7,037,626. The stock has a market capitalization of $201.74 billion, a price-to-earnings ratio of 40.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.83. AbbVie Inc. has a 52-week low of $79.11 and a 52-week high of $118.28. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 5.40. The firm’s fifty day simple moving average is $113.47.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, April 29th. The company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.12. AbbVie had a return on equity of 136.75% and a net margin of 10.28%. The company had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.84 billion. During the same quarter in the previous year, the business earned $2.42 EPS. AbbVie’s revenue was up 50.9% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 12.6 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Thursday, July 15th will be paid a $1.30 dividend. The ex-dividend date is Wednesday, July 14th. This represents a $5.20 annualized dividend and a yield of 4.55%. AbbVie’s payout ratio is 49.24%.

Several research analysts have recently weighed in on ABBV shares. BMO Capital Markets increased their price target on AbbVie from $127.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, May 3rd. SVB Leerink lifted their target price on shares of AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 30th. Piper Sandler boosted their target price on shares of AbbVie from $120.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, April 30th. Royal Bank of Canada assumed coverage on shares of AbbVie in a report on Wednesday, April 7th. They set a $135.00 target price on the stock. Finally, Mizuho increased their price objective on AbbVie from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $119.85.

In other news, SVP Carrie C. Strom sold 4,184 shares of AbbVie stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $112.40, for a total transaction of $470,281.60. Following the completion of the transaction, the senior vice president now directly owns 63,409 shares in the company, valued at $7,127,171.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

AbbVie Company Profile

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), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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