Prevail Innovative Wealth Advisors LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

Prevail Innovative Wealth Advisors LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 56.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,932 shares of the company’s stock after acquiring an additional 700 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in AbbVie were worth $343,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Walled Lake Planning & Wealth Management LLC increased its stake in AbbVie by 11.9% in the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 3,062 shares of the company’s stock valued at $544,000 after purchasing an additional 326 shares during the last quarter. United Bank boosted its position in shares of AbbVie by 27.3% in the 4th quarter. United Bank now owns 1,399 shares of the company’s stock valued at $249,000 after purchasing an additional 300 shares during the period. Physician Wealth Advisors Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $85,000. RWA Wealth Partners LLC lifted its stake in AbbVie by 1.5% in the fourth quarter. RWA Wealth Partners LLC now owns 311,031 shares of the company’s stock valued at $55,270,000 after buying an additional 4,664 shares during the last quarter. Finally, C2C Wealth Management LLC boosted its holdings in shares of AbbVie by 1.6% in the fourth quarter. C2C Wealth Management LLC now owns 4,010 shares of the company’s stock valued at $713,000 after acquiring an additional 63 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Up 1.2 %

ABBV opened at $205.12 on Monday. The business’s fifty day simple moving average is $197.50 and its 200 day simple moving average is $188.91. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The firm has a market cap of $362.85 billion, a P/E ratio of 85.47, a PEG ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the business posted $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ABBV shares. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley raised their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Truist Financial boosted their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $211.45.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. 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.