AbbVie Inc. (NYSE:ABBV) Holdings Boosted by RDA Financial Network

RDA Financial Network boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 19.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,592 shares of the company’s stock after acquiring an additional 255 shares during the period. RDA Financial Network’s holdings in AbbVie were worth $290,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $3,229,888,000. International Assets Investment Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $499,955,000. Capital International Investors raised its holdings in shares of AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after buying an additional 2,542,463 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after buying an additional 2,390,239 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.8 %

AbbVie stock opened at $171.81 on Monday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market cap of $303.39 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The firm’s 50 day moving average price is $163.89 and its two-hundred day moving average price is $166.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the company posted $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABBV shares. BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Piper Sandler boosted their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Thursday. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus 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.