Total Wealth Planning & Management Inc. Buys Shares of 14,719 AbbVie Inc. (NYSE:ABBV)

Total Wealth Planning & Management Inc. bought a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,719 shares of the company’s stock, valued at approximately $2,616,000. AbbVie accounts for about 2.4% of Total Wealth Planning & Management Inc.’s portfolio, making the stock its 3rd largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC boosted its position in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after buying an additional 52 shares during the period. Steel Grove Capital Advisors LLC boosted its position in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after buying an additional 52 shares during the period. Peninsula Wealth LLC boosted its position in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after buying an additional 54 shares during the period. Physicians Financial Services Inc. boosted its position in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares during the period. Finally, Connecticut Wealth Management LLC boosted its position in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after buying an additional 57 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ABBV shares. Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Morgan Stanley upped their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.95.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,693 shares of company stock worth $22,282,985. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $183.51 on Tuesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The stock has a market cap of $324.15 billion, a price-to-earnings ratio of 76.46, a PEG ratio of 1.62 and a beta of 0.56. The business has a 50 day moving average of $187.82 and a 200-day moving average of $186.11. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.