RF&L Wealth Management LLC Sells 250 Shares of AbbVie Inc. (NYSE:ABBV)

RF&L Wealth Management LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,930 shares of the company’s stock after selling 250 shares during the period. AbbVie accounts for approximately 2.3% of RF&L Wealth Management LLC’s portfolio, making the stock its 16th largest position. RF&L Wealth Management LLC’s holdings in AbbVie were worth $3,186,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ABBV. Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Brighton Jones LLC raised its stake in AbbVie by 2.5% in the second quarter. Brighton Jones LLC now owns 19,721 shares of the company’s stock worth $3,383,000 after buying an additional 477 shares in the last quarter. Trust Investment Advisors purchased a new stake in AbbVie in the second quarter worth about $242,000. Benjamin F. Edwards & Company Inc. boosted its position in AbbVie by 2.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 278,306 shares of the company’s stock valued at $47,735,000 after acquiring an additional 5,870 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of AbbVie by 22.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,868,905 shares of the company’s stock worth $492,075,000 after acquiring an additional 529,707 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ABBV shares. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.3 %

Shares of NYSE:ABBV opened at $171.49 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a market cap of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The stock’s fifty day moving average price is $175.78 and its 200-day moving average price is $184.47.

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

AbbVie Increases Dividend

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

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.