Realta Investment Advisors Cuts Holdings in AbbVie Inc. (NYSE:ABBV)

Realta Investment Advisors cut its holdings in AbbVie Inc. (NYSE:ABBV) by 29.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,693 shares of the company’s stock after selling 2,814 shares during the quarter. Realta Investment Advisors’ holdings in AbbVie were worth $1,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. China Universal Asset Management Co. Ltd. purchased a new stake in AbbVie during the first quarter worth about $646,000. Centric Wealth Management grew its holdings in shares of AbbVie by 4.5% in the 1st quarter. Centric Wealth Management now owns 9,570 shares of the company’s stock worth $1,743,000 after acquiring an additional 409 shares during the period. Janney Montgomery Scott LLC increased its stake in AbbVie by 1.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 988,750 shares of the company’s stock valued at $180,052,000 after purchasing an additional 17,957 shares in the last quarter. KFA Private Wealth Group LLC raised its holdings in AbbVie by 9.6% during the first quarter. KFA Private Wealth Group LLC now owns 2,359 shares of the company’s stock worth $430,000 after purchasing an additional 207 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in AbbVie by 6.6% during the first quarter. Resonant Capital Advisors LLC now owns 13,250 shares of the company’s stock worth $2,413,000 after purchasing an additional 823 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.2 %

ABBV traded down $0.32 on Friday, reaching $203.55. 4,493,880 shares of the company’s stock were exchanged, compared to its average volume of 5,329,237. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $207.32. The company’s 50 day moving average is $194.12 and its 200-day moving average is $179.38. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a market cap of $359.54 billion, a price-to-earnings ratio of 70.68, a PEG ratio of 2.76 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that AbbVie Inc. will post 10.9 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.22%. AbbVie’s dividend payout ratio is presently 215.28%.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Morgan Stanley raised their price objective on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America upped their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

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.