Raub Brock Capital Management LP Grows Stake in AbbVie Inc. (NYSE:ABBV)

Raub Brock Capital Management LP increased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 103,277 shares of the company’s stock after acquiring an additional 854 shares during the quarter. AbbVie comprises 3.9% of Raub Brock Capital Management LP’s investment portfolio, making the stock its 13th biggest position. Raub Brock Capital Management LP’s holdings in AbbVie were worth $18,352,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ABBV. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the 3rd quarter valued at about $28,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the fourth quarter worth approximately $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie in the 3rd quarter worth approximately $39,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research analyst reports. Morgan Stanley dropped their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Guggenheim lifted their price target on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Truist Financial reduced their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler boosted their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Stock Down 1.3 %

Shares of AbbVie stock opened at $171.49 on Friday. The company’s fifty day simple moving average is $175.78 and its two-hundred day simple moving average is $184.60. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a market cap of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the previous year, the firm posted $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.83%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

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.