RWA Wealth Partners LLC Acquires 4,664 Shares of AbbVie Inc. (NYSE:ABBV)

RWA Wealth Partners LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 311,031 shares of the company’s stock after acquiring an additional 4,664 shares during the quarter. AbbVie makes up approximately 0.7% of RWA Wealth Partners LLC’s holdings, making the stock its 21st biggest holding. RWA Wealth Partners LLC’s holdings in AbbVie were worth $55,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. C2C Wealth Management LLC grew its stake in shares of AbbVie by 1.6% during the fourth quarter. C2C Wealth Management LLC now owns 4,010 shares of the company’s stock valued at $713,000 after purchasing an additional 63 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in AbbVie by 40.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 644,969 shares of the company’s stock valued at $114,611,000 after buying an additional 185,820 shares during the last quarter. American Money Management LLC increased its stake in shares of AbbVie by 0.7% in the 4th quarter. American Money Management LLC now owns 41,023 shares of the company’s stock valued at $7,290,000 after buying an additional 284 shares during the period. Allianz SE bought a new stake in shares of AbbVie during the fourth quarter worth $16,839,000. Finally, Cambridge Financial Group Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at $6,806,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock worth $11,067,025 over the last quarter. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Guggenheim upped their target price on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley raised their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Bank of America lifted their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Trading Up 1.2 %

Shares of NYSE:ABBV opened at $205.12 on Friday. The company’s 50-day moving average price is $197.50 and its two-hundred day moving average price is $188.95. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. 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 stock has a market capitalization of $362.85 billion, a PE ratio of 85.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

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 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 period in the prior year, the business posted $2.79 EPS. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

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.