RB Capital Management LLC Sells 273 Shares of AbbVie Inc. (NYSE:ABBV)

RB Capital Management LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 2.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,441 shares of the company’s stock after selling 273 shares during the quarter. RB Capital Management LLC’s holdings in AbbVie were worth $2,083,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FAS Wealth Partners Inc. lifted its holdings in shares of AbbVie by 2.6% during the 3rd quarter. FAS Wealth Partners Inc. now owns 21,828 shares of the company’s stock valued at $3,254,000 after purchasing an additional 555 shares in the last quarter. Mcdaniel Terry & Co. lifted its holdings in shares of AbbVie by 21.6% in the third quarter. Mcdaniel Terry & Co. now owns 17,983 shares of the company’s stock valued at $2,680,000 after purchasing an additional 3,197 shares in the last quarter. Innova Wealth Partners grew its holdings in shares of AbbVie by 11.6% during the third quarter. Innova Wealth Partners now owns 4,543 shares of the company’s stock worth $677,000 after buying an additional 471 shares in the last quarter. Scissortail Wealth Management LLC bought a new position in shares of AbbVie during the 3rd quarter worth approximately $203,000. Finally, Moreno Evelyn V raised its holdings in shares of AbbVie by 47.1% in the third quarter. Moreno Evelyn V now owns 4,686 shares of the company’s stock valued at $698,000 after purchasing an additional 1,500 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

ABBV stock traded down $0.92 during midday trading on Wednesday, reaching $161.72. The company had a trading volume of 5,174,182 shares, compared to its average volume of 5,634,725. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The stock has a 50 day moving average price of $174.01 and a 200-day moving average price of $161.10. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market capitalization of $286.35 billion, a price-to-earnings ratio of 48.27, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the business posted $2.46 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analysts Set New Price Targets

Several research firms recently issued reports on ABBV. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Raymond James lifted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

Insider Transactions at AbbVie

In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last three months. 0.25% of the stock is owned by company insiders.

AbbVie Company 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.