AbbVie Inc. (NYSE:ABBV) Shares Sold by RBO & Co. LLC

RBO & Co. LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,087 shares of the company’s stock after selling 1,044 shares during the period. AbbVie accounts for about 6.1% of RBO & Co. LLC’s portfolio, making the stock its largest holding. RBO & Co. LLC’s holdings in AbbVie were worth $38,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. acquired a new stake in AbbVie during the first quarter worth about $646,000. Quent Capital LLC grew its stake in shares of AbbVie by 3.3% in the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after buying an additional 283 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in shares of AbbVie during the 1st quarter worth approximately $221,000. Montchanin Asset Management LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at approximately $875,000. Finally, National Wealth Management Group LLC lifted its holdings in AbbVie by 199.1% in the first quarter. National Wealth Management Group LLC now owns 5,274 shares of the company’s stock valued at $960,000 after acquiring an additional 3,511 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock opened at $181.16 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a fifty day simple moving average of $188.85 and a 200-day simple moving average of $181.58. The stock has a market cap of $320.14 billion, a P/E ratio of 62.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. AbbVie Inc. has a 12-month low of $137.65 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the firm posted $2.95 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.62%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Bank of America increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Finally, UBS Group upped their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Profile

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.