Rational Advisors LLC reduced its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 98.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188 shares of the company’s stock after selling 11,347 shares during the period. Rational Advisors LLC’s holdings in AbbVie were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the company. Kalos Management Inc. acquired a new position in AbbVie during the first quarter worth $26,000. Boulder Wealth Advisors LLC acquired a new position in AbbVie during the fourth quarter worth $31,000. Stone House Investment Management LLC purchased a new stake in shares of AbbVie during the first quarter worth $37,000. True Wealth Design LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $39,000. Finally, General Partner Inc. purchased a new stake in shares of AbbVie during the first quarter worth $40,000. 67.86% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on ABBV shares. StockNews.com started coverage on shares of AbbVie in a report on Thursday, August 17th. They set a “strong-buy” rating for the company. HSBC started coverage on shares of AbbVie in a report on Friday, July 14th. They set a “buy” rating and a $167.00 target price for the company. Credit Suisse Group dropped their target price on shares of AbbVie from $170.00 to $160.00 in a report on Wednesday, July 12th. Piper Sandler upped their price objective on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Finally, TheStreet upgraded shares of AbbVie from a “c+” rating to a “b” rating in a research report on Monday, August 28th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $165.79.
Insider Activity
In other news, CEO Richard A. Gonzalez sold 18,500 shares of AbbVie stock in a transaction on Monday, July 31st. The shares were 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 of the company’s stock, valued at approximately $93,262,600.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
AbbVie Stock Up 0.1 %
Shares of NYSE:ABBV opened at $149.02 on Friday. The company has a market capitalization of $263.03 billion, a PE ratio of 30.66, a P/E/G ratio of 2.70 and a beta of 0.58. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 4.33. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $168.11. The firm has a 50 day simple moving average of $144.93 and a 200-day simple moving average of $147.56.
AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.12. The business had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. On average, equities analysts predict that AbbVie Inc. will post 11.03 EPS for the current fiscal year.
AbbVie Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.97%. AbbVie’s payout ratio is 121.81%.
About AbbVie
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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