RAM Investment Partners LLC Has $1.04 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

RAM Investment Partners LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,278 shares of the company’s stock after buying an additional 59 shares during the period. RAM Investment Partners LLC’s holdings in AbbVie were worth $1,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairway Wealth LLC acquired a new stake in AbbVie during the second quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the 2nd quarter valued at about $27,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $39,000. Redmont Wealth Advisors LLC acquired a new position in AbbVie in the first quarter worth approximately $37,000. Finally, Quest Partners LLC raised its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of AbbVie stock opened at $187.87 on Thursday. The firm has a market cap of $331.75 billion, a P/E ratio of 55.75, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The firm’s 50-day simple moving average is $194.22 and its 200-day simple moving average is $178.08. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.91 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analyst Upgrades and Downgrades

Several analysts have commented on ABBV shares. Bank of America boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets raised their target price on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. UBS Group boosted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.47.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

AbbVie 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.