PRW Wealth Management LLC Invests $55,000 in AbbVie Inc (ABBV)

PRW Wealth Management LLC acquired a new position in shares of AbbVie Inc (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 598 shares of the company’s stock, valued at approximately $55,000.

Several other large investors have also modified their holdings of ABBV. Prime Capital Investment Advisors LLC acquired a new position in AbbVie in the 4th quarter valued at about $27,000. Penserra Capital Management LLC acquired a new position in AbbVie in the 4th quarter valued at about $32,000. Larson Financial Group LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $37,000. Horrell Capital Management Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at about $41,000. Finally, Portfolio Solutions LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $46,000. 70.53% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. BMO Capital Markets upgraded AbbVie from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Argus cut AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Barclays reiterated a “hold” rating and issued a $86.00 price objective on shares of AbbVie in a research note on Thursday, February 14th. Finally, Credit Suisse Group set a $79.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Friday, January 25th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. AbbVie has an average rating of “Hold” and an average target price of $94.95.

In related news, VP Brian L. Durkin sold 475 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the sale, the vice president now owns 9,121 shares in the company, valued at $726,852.49. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the sale, the executive vice president now owns 93,312 shares of the company’s stock, valued at approximately $7,374,447.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,272 shares of company stock valued at $3,286,290. 0.08% of the stock is owned by company insiders.

ABBV stock opened at $79.50 on Friday. The company has a market cap of $116.46 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. AbbVie Inc has a fifty-two week low of $75.62 and a fifty-two week high of $107.25.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.08. The firm had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.87 earnings per share. As a group, analysts forecast that AbbVie Inc will post 8.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 15th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 5.38%. The ex-dividend date was Friday, April 12th. AbbVie’s payout ratio is 54.11%.

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AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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