WealthPLAN Partners LLC Has $7.14 Million Holdings in AbbVie Inc. (NYSE:ABBV)

WealthPLAN Partners LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,623 shares of the company’s stock after selling 1,112 shares during the quarter. WealthPLAN Partners LLC’s holdings in AbbVie were worth $7,139,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares in the last quarter. Capital World Investors raised its position in shares of AbbVie by 249.1% in the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after buying an additional 3,120,310 shares in the last quarter. Capital International Investors boosted its stake in shares of AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after buying an additional 3,110,601 shares during the period. TD Asset Management Inc grew its position in AbbVie by 156.0% during the first quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after buying an additional 2,116,997 shares in the last quarter. Finally, Swedbank AB bought a new position in AbbVie during the 1st quarter worth $367,372,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’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 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 Trading Up 0.8 %

NYSE ABBV opened at $195.78 on Tuesday. The company has a market cap of $345.72 billion, a price-to-earnings ratio of 58.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The business’s fifty day moving average is $187.41 and its 200 day moving average is $175.36.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.91 earnings per share. As a group, sell-side 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. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.17%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley upped their target price on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Truist Financial reiterated a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $191.64.

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.