AbbVie Inc. (NYSE:ABBV) Position Raised by Walled Lake Planning & Wealth Management LLC

Walled Lake Planning & Wealth Management LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,062 shares of the company’s stock after purchasing an additional 326 shares during the quarter. Walled Lake Planning & Wealth Management LLC’s holdings in AbbVie were worth $544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fiduciary Advisors Inc. acquired a new position in AbbVie during the fourth quarter valued at $29,000. Promus Capital LLC bought a new stake in AbbVie during the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $35,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in AbbVie during the fourth quarter worth about $39,000. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’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 directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were 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 of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABBV. Raymond James reaffirmed an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research note on Thursday, December 5th. Finally, Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five investment 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. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Stock Up 1.2 %

Shares of ABBV stock opened at $205.12 on Friday. The company has a 50 day simple moving average of $197.50 and a two-hundred day simple moving average of $188.95. The stock has a market cap of $362.85 billion, a P/E ratio of 85.47, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $2.79 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. AbbVie’s dividend payout ratio is presently 273.33%.

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.