RMB Capital Management LLC Raises Stake in AbbVie Inc (NYSE:ABBV)

RMB Capital Management LLC boosted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 85,167 shares of the company’s stock after purchasing an additional 359 shares during the period. RMB Capital Management LLC’s holdings in AbbVie were worth $6,193,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of AbbVie by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 17,582,527 shares of the company’s stock valued at $1,617,957,000 after purchasing an additional 880,288 shares during the period. Tiemann Investment Advisors LLC raised its stake in shares of AbbVie by 1.6% during the 4th quarter. Tiemann Investment Advisors LLC now owns 16,465 shares of the company’s stock valued at $1,518,000 after purchasing an additional 256 shares during the period. ERTS Wealth Advisors LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $72,000. Financial Advisors LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $408,000. Finally, PRW Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $55,000. 68.21% of the stock is currently owned by institutional investors.

In other news, SVP Jeffrey Ryan Stewart acquired 15,552 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the acquisition, the senior vice president now owns 65,304 shares of the company’s stock, valued at $4,208,189.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William J. Chase acquired 30,400 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average price of $67.30 per share, with a total value of $2,045,920.00. Following the completion of the acquisition, the executive vice president now directly owns 169,552 shares in the company, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. Insiders bought a total of 159,977 shares of company stock valued at $10,626,621 over the last quarter. Company insiders own 0.08% of the company’s stock.

AbbVie stock traded down $0.32 during midday trading on Friday, hitting $70.51. 7,922,988 shares of the company’s stock were exchanged, compared to its average volume of 7,782,352. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $96.60. The stock has a 50-day moving average price of $66.20 and a two-hundred day moving average price of $74.77. The company has a market cap of $102.74 billion, a P/E ratio of 8.91, a PEG ratio of 1.65 and a beta of 0.95.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the previous year, the business earned $2.00 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc will post 8.9 earnings per share for the current year.

The company also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s payout ratio is currently 54.11%.

A number of research firms recently issued reports on ABBV. Leerink Swann upgraded AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research note on Wednesday, June 26th. UBS Group upgraded AbbVie from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $85.00 to $79.00 in a research note on Thursday. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Finally, TheStreet cut AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $91.20.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading: Return on Investment (ROI)

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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