446 Shares in AbbVie Inc (NYSE:ABBV) Bought by RMR Wealth Builders

RMR Wealth Builders purchased a new stake in shares of AbbVie Inc (NYSE:ABBV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 446 shares of the company’s stock, valued at approximately $44,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in AbbVie by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock valued at $14,470,438,000 after purchasing an additional 21,786,239 shares in the last quarter. BlackRock Inc. lifted its position in AbbVie by 21.7% in the 2nd quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock valued at $12,111,133,000 after acquiring an additional 21,974,440 shares in the last quarter. Geode Capital Management LLC lifted its position in AbbVie by 5.5% in the 1st quarter. Geode Capital Management LLC now owns 25,773,505 shares of the company’s stock valued at $1,960,934,000 after acquiring an additional 1,344,728 shares in the last quarter. Bank of New York Mellon Corp lifted its position in AbbVie by 15.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock valued at $2,099,832,000 after acquiring an additional 2,797,448 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in AbbVie by 82.6% in the 1st quarter. Janus Henderson Group PLC now owns 11,515,689 shares of the company’s stock valued at $877,346,000 after acquiring an additional 5,208,549 shares in the last quarter. Hedge funds and other institutional investors own 68.23% of the company’s stock.

In related news, Vice Chairman Carlos Alban sold 53,325 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the transaction, the insider now owns 137,899 shares in the company, valued at approximately $13,789,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Shares of ABBV stock traded down $0.23 during mid-day trading on Wednesday, hitting $90.68. The stock had a trading volume of 171,386 shares, compared to its average volume of 7,109,903. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.86 and a quick ratio of 0.70. AbbVie Inc has a 12-month low of $62.55 and a 12-month high of $101.28. The firm’s 50-day moving average is $93.82 and its two-hundred day moving average is $89.39. The firm has a market capitalization of $159.70 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.45 and a beta of 0.75.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.14. The company had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $10.14 billion. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 earnings per share. Analysts expect that AbbVie Inc will post 10.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be paid a dividend of $1.18 per share. The ex-dividend date is Wednesday, October 14th. This represents a $4.72 annualized dividend and a dividend yield of 5.21%. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.

A number of equities analysts have recently weighed in on the company. TheStreet upgraded AbbVie from a “c+” rating to a “b-” rating in a research note on Friday, June 12th. Piper Sandler increased their target price on shares of AbbVie from $97.00 to $110.00 in a research note on Wednesday, June 10th. ValuEngine lowered AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. Mizuho raised their price target on AbbVie from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Atlantic Securities upgraded shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 price objective for the company in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $108.33.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; 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; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; 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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