Retirement Planning Co of New England Inc. Acquires 707 Shares of AbbVie Inc. (NYSE:ABBV)

Retirement Planning Co of New England Inc. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,090 shares of the company’s stock after purchasing an additional 707 shares during the period. AbbVie comprises approximately 1.7% of Retirement Planning Co of New England Inc.’s investment portfolio, making the stock its 10th biggest holding. Retirement Planning Co of New England Inc.’s holdings in AbbVie were worth $3,570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Everence Capital Management Inc. increased its holdings in AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC boosted its position in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Avior Wealth Management LLC boosted its position in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares during the period. State Street Corp boosted its position in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Finally, Sky Investment Group LLC boosted its position in AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock worth $7,590,000 after purchasing an additional 3,936 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABBV. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group boosted their target price 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 boosted 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. Finally, Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.45.

Insider Activity

In other news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, 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 sold 54,639 shares of company stock valued at $11,067,025 over the last quarter. 0.25% of the stock is owned by company insiders.

AbbVie Stock Up 1.3 %

Shares of NYSE ABBV opened at $214.45 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market cap of $378.57 billion, a price-to-earnings ratio of 89.35, a PEG 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 stock has a 50-day moving average price of $191.78 and a two-hundred day moving average price of $188.18.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 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 last year, the company posted $2.79 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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 3.06%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio 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.