Wealth Management Solutions LLC Has $780,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Wealth Management Solutions LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 3.6% in the third quarter, Holdings Channel reports. The institutional investor owned 5,814 shares of the company’s stock after selling 220 shares during the period. AbbVie makes up 0.5% of Wealth Management Solutions LLC’s investment portfolio, making the stock its 26th largest holding. Wealth Management Solutions LLC’s holdings in AbbVie were worth $780,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Chevy Chase Trust Holdings LLC boosted its holdings in AbbVie by 1.1% during the third quarter. Chevy Chase Trust Holdings LLC now owns 1,123,551 shares of the company’s stock worth $150,793,000 after purchasing an additional 12,408 shares during the last quarter. TRUE Private Wealth Advisors boosted its stake in AbbVie by 9.8% in the third quarter. TRUE Private Wealth Advisors now owns 32,775 shares of the company’s stock valued at $4,398,000 after acquiring an additional 2,936 shares during the last quarter. Briaud Financial Planning Inc boosted its stake in AbbVie by 11.3% in the third quarter. Briaud Financial Planning Inc now owns 1,819 shares of the company’s stock valued at $268,000 after acquiring an additional 185 shares during the last quarter. Total Clarity Wealth Management Inc. boosted its stake in AbbVie by 1.2% in the third quarter. Total Clarity Wealth Management Inc. now owns 6,608 shares of the company’s stock valued at $887,000 after acquiring an additional 78 shares during the last quarter. Finally, XML Financial LLC boosted its stake in AbbVie by 513.5% in the third quarter. XML Financial LLC now owns 50,476 shares of the company’s stock valued at $6,774,000 after acquiring an additional 42,248 shares during the last quarter. 67.71% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of ABBV stock opened at $147.88 on Wednesday. AbbVie Inc. has a one year low of $132.83 and a one year high of $175.91. The company’s 50-day moving average is $159.47 and its 200 day moving average is $149.22. The company has a market capitalization of $261.52 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.83 and a current ratio of 0.93.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, October 28th. The company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.56 by $0.10. AbbVie had a net margin of 23.19% and a return on equity of 155.88%. The company had revenue of $14.81 billion for the quarter, compared to the consensus estimate of $14.95 billion. During the same quarter last year, the firm posted $3.33 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc. will post 13.89 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $5.92 annualized dividend and a dividend yield of 4.00%. This is a boost from AbbVie’s previous quarterly dividend of $1.41. AbbVie’s dividend payout ratio (DPR) is presently 79.04%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Atlantic Securities dropped their target price on shares of AbbVie from $162.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, October 31st. StockNews.com assumed coverage on shares of AbbVie in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Piper Sandler boosted their target price on shares of AbbVie from $155.00 to $157.00 and gave the company an “overweight” rating in a research note on Tuesday, January 17th. Credit Suisse Group began coverage on shares of AbbVie in a research report on Thursday, November 17th. They issued an “outperform” rating and a $170.00 price target on the stock. Finally, Barclays lowered their price target on shares of AbbVie from $160.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $160.56.

Insider Activity

In other news, EVP Timothy J. Richmond sold 42,370 shares of AbbVie stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $163.44, for a total transaction of $6,924,952.80. Following the sale, the executive vice president now owns 13,837 shares in the company, valued at $2,261,519.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.08% of the company’s stock.

AbbVie Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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