AbbVie Inc. (NYSE:ABBV) Shares Bought by Riverpoint Wealth Management Holdings LLC

Riverpoint Wealth Management Holdings LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,968 shares of the company’s stock after acquiring an additional 84 shares during the period. AbbVie accounts for about 0.4% of Riverpoint Wealth Management Holdings LLC’s holdings, making the stock its 25th biggest position. Riverpoint Wealth Management Holdings LLC’s holdings in AbbVie were worth $1,235,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ABBV. Aspen Wealth Strategies LLC lifted its stake in AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after buying an additional 61 shares in the last quarter. Marks Group Wealth Management Inc increased its holdings in AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the last quarter. Avion Wealth increased its holdings in AbbVie by 11.9% in the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after buying an additional 65 shares during the last quarter. White Pine Capital LLC increased its holdings in AbbVie by 1.2% in the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after buying an additional 65 shares during the last quarter. Finally, First Bank & Trust increased its holdings in AbbVie by 0.4% in the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after buying an additional 68 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research analyst reports. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Price Performance

Shares of NYSE ABBV traded down $0.92 during trading hours on Wednesday, hitting $161.72. 5,176,337 shares of the stock were exchanged, compared to its average volume of 5,657,122. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market cap of $286.35 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58. The company’s fifty day simple moving average is $174.01 and its two-hundred day simple moving average is $161.10. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

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.