RKL Wealth Management LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

RKL Wealth Management LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,655 shares of the company’s stock after purchasing an additional 244 shares during the quarter. RKL Wealth Management LLC’s holdings in AbbVie were worth $2,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ABBV. Groupama Asset Managment increased its position in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the third quarter valued at about $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at about $29,000. Promus Capital LLC bought a new stake in shares of AbbVie during the fourth quarter valued at about $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at about $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the 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 sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Truist Financial upped their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets upped their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Stock Up 1.8 %

Shares of NYSE ABBV opened at $214.55 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $215.66. 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 firm’s 50 day simple moving average is $187.63 and its two-hundred day simple moving average is $187.59. The stock has a market capitalization of $378.75 billion, a P/E ratio of 89.40, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, analysts expect 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 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.