RMR Wealth Builders Buys 212 Shares of AbbVie Inc. (NYSE:ABBV)

RMR Wealth Builders boosted its stake in AbbVie Inc. (NYSE:ABBV) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,780 shares of the company’s stock after acquiring an additional 212 shares during the period. RMR Wealth Builders’ holdings in AbbVie were worth $1,671,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC lifted its position in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in AbbVie during the fourth quarter valued at $44,000. Horrell Capital Management Inc. purchased a new position in shares of AbbVie in the 3rd quarter worth about $45,000. Core Wealth Advisors Inc. raised its position in shares of AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after purchasing an additional 285 shares during the last quarter. Finally, Bourgeon Capital Management LLC raised its position in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 1.3 %

AbbVie stock opened at $160.45 on Thursday. The business has a 50-day simple moving average of $172.48 and a two-hundred day simple moving average of $161.62. The company has a market cap of $283.33 billion, a P/E ratio of 47.60, a P/E/G ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. Analysts predict that AbbVie Inc. will post 11.29 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.86%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Activity at AbbVie

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $174.31.

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.