RPg Family Wealth Advisory LLC Acquires Shares of 144 AbbVie Inc. (NYSE:ABBV)

RPg Family Wealth Advisory LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 144 shares of the company’s stock, valued at approximately $28,000.

Several other large investors also recently modified their holdings of the business. Quent Capital LLC raised its stake in AbbVie by 3.3% during the first 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 in the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of AbbVie during the first quarter worth about $221,000. Cetera Investment Advisers increased its holdings in shares of AbbVie by 220.7% in the 1st quarter. Cetera Investment Advisers now owns 608,224 shares of the company’s stock worth $110,758,000 after acquiring an additional 418,540 shares during the period. Cetera Advisors LLC lifted its position in AbbVie by 69.8% in the 1st quarter. Cetera Advisors LLC now owns 224,418 shares of the company’s stock valued at $40,866,000 after purchasing an additional 92,259 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in AbbVie during the 1st quarter valued at about $5,900,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 1.1 %

Shares of ABBV stock opened at $183.09 on Thursday. AbbVie Inc. has a 12 month low of $137.65 and a 12 month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a market cap of $323.55 billion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63. The stock has a 50 day moving average of $188.65 and a 200-day moving average of $181.59.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. On average, equities analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ABBV shares. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Guggenheim increased their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.