Robertson Stephens Wealth Management LLC Sells 288 Shares of AbbVie Inc. (NYSE:ABBV)

Robertson Stephens Wealth Management LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,377 shares of the company’s stock after selling 288 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in AbbVie were worth $3,313,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC lifted its stake in AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $44,000. Horrell Capital Management Inc. bought a new stake in shares of AbbVie during the 3rd quarter worth approximately $45,000. Core Wealth Advisors Inc. boosted its stake in AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after buying an additional 285 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its stake in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

Shares of AbbVie stock traded down $1.77 during trading hours on Thursday, reaching $159.95. 1,460,682 shares of the stock traded hands, compared to its average volume of 5,605,535. The company has a 50 day moving average price of $173.74 and a 200 day moving average price of $161.10. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $283.22 billion, a price-to-earnings ratio of 47.33, a P/E/G ratio of 2.04 and a beta of 0.61. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 EPS. On average, equities research analysts expect that AbbVie Inc. will post 11.3 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analysts Set New Price Targets

Several analysts have recently commented on ABBV shares. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. Raymond James upped their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $174.31.

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.