REDW Wealth LLC Sells 375 Shares of AbbVie Inc. (NYSE:ABBV)

REDW Wealth LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 23.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,227 shares of the company’s stock after selling 375 shares during the period. REDW Wealth LLC’s holdings in AbbVie were worth $218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SLT Holdings LLC bought a new stake in AbbVie in the fourth quarter worth $233,000. Sound View Wealth Advisors Group LLC increased its holdings in shares of AbbVie by 2.5% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 58,812 shares of the company’s stock worth $10,451,000 after buying an additional 1,436 shares during the period. Enterprise Financial Services Corp lifted its stake in shares of AbbVie by 0.7% in the 4th quarter. Enterprise Financial Services Corp now owns 11,501 shares of the company’s stock valued at $2,044,000 after acquiring an additional 77 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in AbbVie by 1.3% during the 4th quarter. Sowell Financial Services LLC now owns 58,572 shares of the company’s stock valued at $10,408,000 after acquiring an additional 746 shares during the period. Finally, Miramar Capital LLC grew its position in AbbVie by 7.2% during the 4th quarter. Miramar Capital LLC now owns 109,129 shares of the company’s stock worth $19,392,000 after acquiring an additional 7,348 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.8 %

Shares of NYSE ABBV opened at $214.55 on Monday. The stock has a market cap of $378.75 billion, a P/E ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66. The firm has a 50-day moving average of $187.63 and a 200 day moving average of $187.47.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the company posted $2.79 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s 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 sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock worth $11,377,057 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Citigroup upped their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group upped their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.