Werba Rubin Papier Wealth Management Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Werba Rubin Papier Wealth Management lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,943 shares of the company’s stock after selling 108 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in AbbVie were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Cannon Financial Strategists Inc. boosted its holdings in shares of AbbVie by 2.4% in the fourth quarter. Cannon Financial Strategists Inc. now owns 4,141 shares of the company’s stock worth $736,000 after buying an additional 97 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of AbbVie by 8.4% in the fourth quarter. Global Retirement Partners LLC now owns 87,116 shares of the company’s stock worth $15,481,000 after buying an additional 6,769 shares during the last quarter. Cornerstone Advisors Asset Management LLC boosted its holdings in shares of AbbVie by 5.2% in the fourth quarter. Cornerstone Advisors Asset Management LLC now owns 2,629 shares of the company’s stock worth $467,000 after buying an additional 129 shares during the last quarter. Convergence Investment Partners LLC boosted its holdings in shares of AbbVie by 4.7% in the fourth quarter. Convergence Investment Partners LLC now owns 31,249 shares of the company’s stock worth $5,553,000 after buying an additional 1,402 shares during the last quarter. Finally, WestHill Financial Advisors Inc. boosted its holdings in shares of AbbVie by 6.4% in the fourth quarter. WestHill Financial Advisors Inc. now owns 2,942 shares of the company’s stock worth $523,000 after buying an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $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 is available through the SEC website. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group lifted their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. BMO Capital Markets lifted their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Up 1.8 %

NYSE ABBV opened at $196.36 on Wednesday. The firm has a market capitalization of $347.00 billion, a price-to-earnings ratio of 81.82, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a fifty day moving average of $179.25 and a two-hundred day moving average of $186.06.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 257.91%. During the same quarter in the previous year, the business earned $2.79 EPS. On average, analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.