AbbVie Inc. (NYSE:ABBV) is Raleigh Capital Management Inc.’s 8th Largest Position

Raleigh Capital Management Inc. lifted its stake in AbbVie Inc. (NYSE:ABBV) by 3.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,090 shares of the company’s stock after purchasing an additional 587 shares during the quarter. AbbVie accounts for 1.5% of Raleigh Capital Management Inc.’s portfolio, making the stock its 8th largest position. Raleigh Capital Management Inc.’s holdings in AbbVie were worth $3,043,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Goepper Burkhardt LLC boosted its position in AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after acquiring an additional 67 shares during the last quarter. Naviter Wealth LLC boosted its holdings in shares of AbbVie by 0.9% in the 1st quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock valued at $1,176,000 after buying an additional 68 shares during the last quarter. Delta Financial Group Inc. boosted its holdings in shares of AbbVie by 1.2% in the 1st quarter. Delta Financial Group Inc. now owns 5,757 shares of the company’s stock valued at $917,000 after buying an additional 68 shares during the last quarter. Sand Hill Global Advisors LLC boosted its holdings in shares of AbbVie by 0.4% in the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after buying an additional 68 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its holdings in shares of AbbVie by 0.6% in the 1st quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock valued at $1,963,000 after buying an additional 70 shares during the last quarter. 67.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 18,500 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the completion of the sale, the chief executive officer now owns 625,294 shares in the company, valued at $93,262,600.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com assumed coverage on AbbVie in a report on Thursday, August 17th. They set a “strong-buy” rating for the company. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. Piper Jaffray Companies increased their price objective on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Piper Sandler increased their price objective on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Finally, William Blair assumed coverage on AbbVie in a research report on Tuesday, July 25th. They set a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.79.

AbbVie Price Performance

AbbVie stock opened at $149.07 on Wednesday. The stock’s 50 day moving average is $145.49 and its 200 day moving average is $147.49. The company has a debt-to-equity ratio of 4.33, a current ratio of 0.89 and a quick ratio of 0.77. The firm has a market cap of $263.12 billion, a P/E ratio of 30.72, a P/E/G ratio of 2.70 and a beta of 0.58. AbbVie Inc. has a one year low of $130.96 and a one year high of $168.11.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.12. The business had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. As a group, research analysts expect that AbbVie Inc. will post 11.03 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $5.92 annualized dividend and a dividend yield of 3.97%. AbbVie’s dividend payout ratio is 121.81%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.