RFG Advisory LLC Sells 2,407 Shares of AbbVie Inc. (NYSE:ABBV)

RFG Advisory LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,079 shares of the company’s stock after selling 2,407 shares during the quarter. RFG Advisory LLC’s holdings in AbbVie were worth $5,659,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. V Square Quantitative Management LLC grew its position in shares of AbbVie by 939.1% during the third quarter. V Square Quantitative Management LLC now owns 1,434 shares of the company’s stock valued at $214,000 after purchasing an additional 1,296 shares in the last quarter. AlphaCore Capital LLC grew its holdings in AbbVie by 1.6% during the 3rd quarter. AlphaCore Capital LLC now owns 19,005 shares of the company’s stock valued at $2,833,000 after buying an additional 306 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in AbbVie by 27.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 118,454 shares of the company’s stock worth $17,657,000 after acquiring an additional 25,813 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of AbbVie by 8.4% during the 3rd quarter. Personal CFO Solutions LLC now owns 6,289 shares of the company’s stock worth $938,000 after acquiring an additional 485 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of AbbVie by 9.1% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 186,591 shares of the company’s stock valued at $27,813,000 after acquiring an additional 15,578 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

ABBV opened at $170.39 on Friday. The business has a fifty day moving average of $163.89 and a 200 day moving average of $166.79. The stock has a market cap of $300.89 billion, a P/E ratio of 50.56, a PEG ratio of 2.20 and a beta of 0.60. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research reports. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler lifted their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, BMO Capital Markets dropped their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.64.

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.