Walled Lake Planning & Wealth Management LLC Reduces Stake in AbbVie Inc. (NYSE:ABBV)

Walled Lake Planning & Wealth Management LLC cut its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,646 shares of the company’s stock after selling 1,341 shares during the quarter. AbbVie comprises 4.3% of Walled Lake Planning & Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Walled Lake Planning & Wealth Management LLC’s holdings in AbbVie were worth $7,399,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Steward Financial Group LLC purchased a new position in AbbVie during the fourth quarter valued at $30,000. Maryland Capital Advisors Inc. purchased a new position in AbbVie during the fourth quarter valued at $41,000. Bell Investment Advisors Inc purchased a new position in AbbVie during the third quarter valued at $43,000. West Bancorporation Inc. purchased a new position in shares of AbbVie in the fourth quarter worth $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of AbbVie in the third quarter worth $51,000. Institutional investors and hedge funds own 67.03% of the company’s stock.

NYSE:ABBV traded down $0.79 during mid-day trading on Friday, hitting $153.50. 6,398,527 shares of the company traded hands, compared to its average volume of 7,759,677. The stock’s fifty day moving average price is $157.75 and its 200-day moving average price is $140.25. AbbVie Inc. has a one year low of $105.56 and a one year high of $175.91. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The firm has a market cap of $271.25 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 4.26 and a beta of 0.83.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.02. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.61 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. AbbVie’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post 14.06 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 3.67%. The ex-dividend date is Wednesday, April 13th. AbbVie’s dividend payout ratio is presently 80.92%.

Several research firms have recently weighed in on ABBV. UBS Group cut AbbVie from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $129.00 to $147.00 in a research note on Monday, February 28th. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 price target for the company. in a research note on Friday, May 6th. Mizuho boosted their price target on AbbVie from $154.00 to $166.00 and gave the stock a “buy” rating in a research note on Friday, February 4th. StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. Finally, Morgan Stanley upped their price objective on AbbVie from $142.00 to $192.00 and gave the company an “overweight” rating in a research report on Wednesday, April 6th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $159.44.

In other news, VP Brian L. Durkin sold 18,628 shares of the company’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $150.01, for a total value of $2,794,386.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Michael Severino sold 100,000 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $150.28, for a total value of $15,028,000.00. Following the completion of the transaction, the insider now directly owns 152,103 shares of the company’s stock, valued at approximately $22,858,038.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,423 shares of company stock valued at $45,925,851. Corporate insiders own 0.08% of the company’s stock.

AbbVie Company Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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