RMR Wealth Builders Trims Stake in AbbVie Inc. (NYSE:ABBV)

RMR Wealth Builders decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,909 shares of the company’s stock after selling 375 shares during the period. RMR Wealth Builders’ holdings in AbbVie were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Atlanta Consulting Group Advisors LLC bought a new position in AbbVie in the 3rd quarter worth approximately $999,000. Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Everence Capital Management Inc. grew its stake in AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC increased its holdings in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after acquiring an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in AbbVie by 23.5% in the 3rd 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 in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Down 1.9 %

Shares of AbbVie stock traded down $3.32 on Friday, reaching $175.18. The stock had a trading volume of 5,310,745 shares, compared to its average volume of 5,069,464. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $309.57 billion, a P/E ratio of 60.83, a P/E/G ratio of 1.92 and a beta of 0.58. The company has a 50 day moving average price of $179.04 and a 200 day moving average price of $184.34. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $2.95 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared 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 is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.74%. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ABBV shares. Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Citigroup reduced their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Morgan Stanley reduced their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

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.