RWA Wealth Partners LLC Has $55.27 Million Position in AbbVie Inc. (NYSE:ABBV)

RWA Wealth Partners LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 311,031 shares of the company’s stock after buying an additional 4,664 shares during the period. AbbVie makes up 0.7% of RWA Wealth Partners LLC’s holdings, making the stock its 21st biggest position. RWA Wealth Partners LLC’s holdings in AbbVie were worth $55,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Blue Bell Private Wealth Management LLC raised its stake in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Physicians Financial Services Inc. lifted its position in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after acquiring an additional 55 shares during the period. Armstrong Advisory Group Inc. increased its position in shares of AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after purchasing an additional 58 shares during the period. Doliver Advisors LP raised its stake in AbbVie by 1.1% in the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after purchasing an additional 59 shares in the last quarter. Finally, Sound Financial Strategies Group LLC lifted its position in AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock worth $213,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

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 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. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were 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. This represents a 62.23 % decrease in their position. 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 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Morgan Stanley raised their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $205.12 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The stock’s 50 day moving average is $197.50 and its 200-day moving average is $188.95. 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 capitalization of $362.85 billion, a price-to-earnings ratio of 85.47, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 quarter last year, the company posted $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.