Werba Rubin Papier Wealth Management Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Werba Rubin Papier Wealth Management cut its holdings in AbbVie Inc. (NYSE:ABBV) by 17.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,953 shares of the company’s stock after selling 400 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in AbbVie were worth $335,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the fourth quarter worth $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the 2nd quarter worth about $27,000. Able Wealth Management LLC purchased a new position in shares of AbbVie during the 4th quarter worth about $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the 1st quarter worth about $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie in the fourth quarter worth about $37,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Morgan Stanley lifted their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Piper Sandler upped their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Truist Financial restated a “buy” rating and issued a $210.00 target price (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $191.64.

AbbVie Stock Up 0.3 %

ABBV stock traded up $0.54 on Friday, hitting $193.40. 4,312,632 shares of the company’s stock were exchanged, compared to its average volume of 5,427,167. The firm has a 50 day moving average price of $183.88 and a two-hundred day moving average price of $174.60. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The stock has a market cap of $341.52 billion, a P/E ratio of 57.39, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.91 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.21%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Company 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.