RPg Family Wealth Advisory LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

RPg Family Wealth Advisory LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the third quarter, HoldingsChannel.com reports. The fund bought 144 shares of the company’s stock, valued at approximately $28,000.

A number of other large investors have also added to or reduced their stakes in ABBV. Quent Capital LLC grew its holdings in shares of AbbVie by 3.3% during the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after purchasing an additional 283 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of AbbVie during the first quarter worth $221,000. Cetera Investment Advisers boosted its position in AbbVie by 220.7% during the 1st quarter. Cetera Investment Advisers now owns 608,224 shares of the company’s stock worth $110,758,000 after buying an additional 418,540 shares during the period. Cetera Advisors LLC raised its stake in shares of AbbVie by 69.8% during the first quarter. Cetera Advisors LLC now owns 224,418 shares of the company’s stock valued at $40,866,000 after acquiring an additional 92,259 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of AbbVie in the first quarter valued at about $5,900,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. TD Cowen increased their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Sanford C. Bernstein started coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $203.50.

AbbVie Trading Up 1.1 %

Shares of NYSE:ABBV opened at $183.09 on Thursday. The company has a market cap of $323.55 billion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63. AbbVie Inc. has a 12-month low of $137.65 and a 12-month high of $207.32. The stock has a 50 day moving average of $188.65 and a 200 day moving average of $181.59. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

AbbVie Profile

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.