AbbVie Inc. (NYSE:ABBV) Shares Bought by RDA Financial Network

RDA Financial Network grew its position in AbbVie Inc. (NYSE:ABBV) by 13.2% in the fourth quarter, HoldingsChannel reports. The fund owned 1,730 shares of the company’s stock after acquiring an additional 202 shares during the quarter. RDA Financial Network’s holdings in AbbVie were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the 3rd quarter valued at $28,000. Marquette Asset Management LLC purchased a new position in AbbVie during the third quarter valued at $39,000. Mizuho Securities Co. Ltd. grew its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of AbbVie during the third quarter worth about $39,000. Finally, Quest Partners LLC raised its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABBV shares. BMO Capital Markets lowered their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company raised their price target on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Down 1.3 %

AbbVie stock opened at $171.49 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm has a 50 day moving average price of $175.78 and a 200 day moving average price of $184.47. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a market capitalization of $303.05 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

AbbVie Company 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.