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.
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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