RWA Wealth Partners LLC Raises Stake in AbbVie Inc. (NYSE:ABBV)

RWA Wealth Partners LLC grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 311,031 shares of the company's stock after acquiring an additional 4,664 shares during the quarter. AbbVie accounts for approximately 0.7% of RWA Wealth Partners LLC's investment portfolio, making the stock its 21st biggest position. RWA Wealth Partners LLC's holdings in AbbVie were worth $55,270,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ABBV. Groupama Asset Managment grew its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after acquiring an additional 38,974 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $29,000. Promus Capital LLC bought a new position in AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter worth $35,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ABBV shares. UBS Group boosted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Bank of America raised their price objective on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, Daiwa America cut shares of AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.45.

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AbbVie Stock Performance

Shares of AbbVie stock traded up $4.54 on Monday, reaching $209.83. 11,093,562 shares of the company traded hands, compared to its average volume of 5,725,897. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market capitalization of $371.19 billion, a PE ratio of 87.43, a PEG ratio of 1.62 and a beta of 0.61. The company has a 50 day moving average of $197.50 and a 200 day moving average of $188.91. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the company posted $2.79 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is presently 273.33%.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by corporate insiders.

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.