AbbVie Inc. (NYSE:ABBV) Shares Acquired by RMR Wealth Builders

RMR Wealth Builders grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 10,780 shares of the company’s stock after buying an additional 212 shares during the period. RMR Wealth Builders’ holdings in AbbVie were worth $1,671,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABBV. Massachusetts Financial Services Co. MA raised its position in AbbVie by 29,922.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after acquiring an additional 6,012,281 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $499,955,000. Charles Schwab Investment Management Inc. increased its position in shares of AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Vanguard Group Inc. increased its position in shares of AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after buying an additional 1,450,089 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of AbbVie by 201.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock valued at $332,242,000 after buying an additional 1,433,236 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $160.45 on Thursday. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The business’s fifty day simple moving average is $172.48 and its 200-day simple moving average is $161.62. The firm has a market cap of $283.33 billion, a PE ratio of 47.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. 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 announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the company posted $2.46 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Announces Dividend

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

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 13,753 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.51, for a total value of $2,441,295.03. Following the transaction, the executive vice president now directly owns 28,173 shares in the company, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ABBV shares. Guggenheim boosted 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. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets dropped 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 boosted 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, Barclays dropped 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. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $174.31.

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.