Independent Solutions Wealth Management LLC Trims Position in AbbVie Inc. (NYSE:ABBV)

Independent Solutions Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,431 shares of the company’s stock after selling 270 shares during the period. Independent Solutions Wealth Management LLC’s holdings in AbbVie were worth $2,387,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ABBV. Groupama Asset Managment boosted its position in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the last quarter. 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 position in shares of AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of ABBV opened at $211.54 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $373.44 billion, a price-to-earnings ratio of 88.14, a PEG ratio of 1.62 and a beta of 0.61. The business’s 50 day moving average is $193.80 and its two-hundred day moving average is $188.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 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 296.28%. During the same quarter in the prior year, the company earned $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed 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. This represents a $6.56 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABBV. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Raymond James reiterated an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.45.

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.