AbbVie Inc. (NYSE:ABBV) Shares Bought by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,329 shares of the company’s stock after acquiring an additional 158 shares during the quarter. AbbVie accounts for 1.3% of WealthPlan Investment Management LLC’s holdings, making the stock its 21st biggest position. WealthPlan Investment Management LLC’s holdings in AbbVie were worth $12,853,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABBV. Groupama Asset Managment grew its position in shares of AbbVie by 40.3% during the 3rd 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 period. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the third quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. raised its stake in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. UBS Group boosted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Trading Down 0.2 %

Shares of ABBV stock opened at $193.00 on Friday. The stock has a market capitalization of $341.05 billion, a P/E ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a 50 day moving average price of $178.59 and a 200 day moving average price of $185.96.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the previous year, the business earned $2.79 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.40%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Company 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.