Retirement Wealth Solutions LLC Makes New $35,000 Investment in AbbVie Inc. (NYSE:ABBV)

Retirement Wealth Solutions LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 199 shares of the company’s stock, valued at approximately $35,000.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group boosted its position in shares of AbbVie by 29.6% during the 4th quarter. Brooklyn Investment Group now owns 15,338 shares of the company’s stock worth $2,725,000 after purchasing an additional 3,502 shares during the period. Whitener Capital Management Inc. raised its position in AbbVie by 0.8% in the fourth quarter. Whitener Capital Management Inc. now owns 38,266 shares of the company’s stock valued at $6,800,000 after purchasing an additional 309 shares during the period. Helen Stephens Group LLC boosted its position in shares of AbbVie by 4.7% during the fourth quarter. Helen Stephens Group LLC now owns 1,369 shares of the company’s stock worth $243,000 after buying an additional 61 shares during the period. Sax Wealth Advisors LLC boosted its position in shares of AbbVie by 14.0% during the fourth quarter. Sax Wealth Advisors LLC now owns 6,594 shares of the company’s stock worth $1,172,000 after buying an additional 810 shares during the period. Finally, Somerset Trust Co grew its stake in shares of AbbVie by 21.7% in the fourth quarter. Somerset Trust Co now owns 3,281 shares of the company’s stock valued at $583,000 after buying an additional 584 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $171.49 on Friday. The firm has a market capitalization of $303.05 billion, a PE ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. The stock’s 50 day moving average is $175.78 and its two-hundred day moving average is $184.47. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 215.28%.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABBV shares. Sanford C. Bernstein started coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Bank of America restated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. UBS Group increased their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price target on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

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.