Raub Brock Capital Management LP Sells 6,624 Shares of AbbVie Inc. (NYSE:ABBV)

Raub Brock Capital Management LP trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,284 shares of the company’s stock after selling 6,624 shares during the period. AbbVie comprises 4.1% of Raub Brock Capital Management LP’s holdings, making the stock its 9th largest position. Raub Brock Capital Management LP’s holdings in AbbVie were worth $19,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. American National Bank grew its holdings in AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares during the period. AXS Investments LLC lifted its position in shares of AbbVie by 3.3% in the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after acquiring an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. lifted its position in shares of AbbVie by 1.0% in the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after acquiring an additional 165 shares in the last quarter. Mizuho Markets Americas LLC lifted its position in shares of AbbVie by 33.4% in the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after acquiring an additional 7,737 shares in the last quarter. Finally, Amplius Wealth Advisors LLC lifted its position in shares of AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after acquiring an additional 400 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 2.6 %

ABBV opened at $165.97 on Wednesday. The business has a 50 day moving average price of $164.65 and a two-hundred day moving average price of $167.74. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a market cap of $293.08 billion, a PE ratio of 49.25, a P/E/G ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a 52 week low of $132.70 and a 52 week high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company 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 firm posted $2.46 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of analyst reports. Barclays reduced their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Thursday, June 20th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Finally, Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.07.

About AbbVie

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.