RKL Wealth Management LLC Purchases 7,899 Shares of AbbVie Inc. (NYSE:ABBV)

RKL Wealth Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 105.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,411 shares of the company’s stock after purchasing an additional 7,899 shares during the quarter. RKL Wealth Management LLC’s holdings in AbbVie were worth $3,043,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Fairway Wealth LLC purchased a new position in AbbVie in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the 2nd quarter worth $27,000. Quest Partners LLC raised its stake in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Marquette Asset Management LLC bought a new position in shares of AbbVie during the third quarter valued at $39,000. Finally, Burkett Financial Services LLC boosted its position in shares of AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.5 %

Shares of NYSE:ABBV opened at $199.50 on Friday. The stock has a 50 day moving average of $194.58 and a 200 day moving average of $180.61. The company has a market cap of $352.54 billion, a PE ratio of 69.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.71 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.95 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed 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 represents a $6.56 annualized dividend and a dividend yield of 3.29%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

Analyst Ratings Changes

A number of brokerages have weighed in on ABBV. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Citigroup increased their price target on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Morgan Stanley lifted their price objective on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.82.

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.