RIA Advisory Group LLC Takes $579,000 Position in AbbVie Inc. (NYSE:ABBV)

RIA Advisory Group LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the third quarter, Holdings Channel reports. The firm acquired 2,931 shares of the company’s stock, valued at approximately $579,000.

Several other large investors also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of AbbVie in the 1st quarter valued at $646,000. Quent Capital LLC lifted its position in shares of 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 during the last quarter. Strait & Sound Wealth Management LLC boosted its holdings in shares of AbbVie by 1.0% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 9,267 shares of the company’s stock valued at $1,552,000 after buying an additional 94 shares in the last quarter. Jacobi Capital Management LLC grew its position in shares of AbbVie by 2.1% in the 1st quarter. Jacobi Capital Management LLC now owns 32,430 shares of the company’s stock worth $5,906,000 after buying an additional 669 shares during the last quarter. Finally, Northern Capital Management Inc. raised its stake in shares of AbbVie by 6.7% during the 1st quarter. Northern Capital Management Inc. now owns 1,711 shares of the company’s stock worth $312,000 after acquiring an additional 107 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 2.7 %

ABBV stock opened at $164.99 on Friday. AbbVie Inc. has a one year low of $137.05 and a one year high of $207.32. The firm has a market cap of $291.56 billion, a PE ratio of 57.26, a PEG ratio of 2.07 and a beta of 0.63. The firm’s 50 day moving average price is $192.04 and its 200-day moving average price is $180.78. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company 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 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts anticipate 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. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.98%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen upped their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Piper Sandler lifted their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.89.

About AbbVie

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.