Roble Belko & Company Inc Purchases 3,837 Shares of AbbVie Inc. (NYSE:ABBV)

Roble Belko & Company Inc raised its position in AbbVie Inc. (NYSE:ABBV) by 648.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,429 shares of the company’s stock after acquiring an additional 3,837 shares during the quarter. Roble Belko & Company Inc’s holdings in AbbVie were worth $807,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie during the 4th quarter valued at approximately $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the fourth quarter worth $37,000. Finally, Clarity Asset Management Inc. purchased a new position in AbbVie during the fourth quarter valued at $42,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.0 %

Shares of AbbVie stock opened at $170.38 on Monday. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market cap of $300.87 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 2.20 and a beta of 0.60. The firm’s 50-day moving average is $163.89 and its two-hundred day moving average is $166.93. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

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

AbbVie Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ABBV shares. Barclays lowered their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Piper Sandler increased their price objective on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Thursday. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Finally, BMO Capital Markets dropped their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie currently 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.