Independent Solutions Wealth Management LLC Sells 150 Shares of AbbVie Inc. (NYSE:ABBV)

Independent Solutions Wealth Management LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,281 shares of the company’s stock after selling 150 shares during the period. Independent Solutions Wealth Management LLC’s holdings in AbbVie were worth $2,783,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ABBV. Saxony Capital Management LLC increased its stake in AbbVie by 4.7% in the 1st quarter. Saxony Capital Management LLC now owns 2,241 shares of the company’s stock valued at $470,000 after buying an additional 101 shares during the last quarter. Riverbend Wealth Management LLC grew its holdings in shares of AbbVie by 2.2% in the first quarter. Riverbend Wealth Management LLC now owns 3,064 shares of the company’s stock valued at $642,000 after acquiring an additional 66 shares in the last quarter. Daymark Wealth Partners LLC increased its position in shares of AbbVie by 1.5% during the first quarter. Daymark Wealth Partners LLC now owns 79,538 shares of the company’s stock valued at $16,665,000 after acquiring an additional 1,145 shares during the last quarter. Trust Co of Kansas increased its position in shares of AbbVie by 14.2% during the first quarter. Trust Co of Kansas now owns 2,411 shares of the company’s stock valued at $505,000 after acquiring an additional 300 shares during the last quarter. Finally, RAM Investment Partners LLC lifted its holdings in AbbVie by 12.0% during the first quarter. RAM Investment Partners LLC now owns 5,905 shares of the company’s stock worth $1,237,000 after acquiring an additional 631 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by company insiders.

AbbVie Trading Up 1.0%

NYSE:ABBV opened at $185.53 on Wednesday. The company has a 50-day moving average price of $185.46 and a 200-day moving average price of $187.82. The stock has a market cap of $327.73 billion, a price-to-earnings ratio of 78.95, a P/E/G ratio of 1.22 and a beta of 0.50. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is presently 279.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BNP Paribas raised AbbVie to a “hold” rating in a research report on Thursday, May 8th. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Citigroup boosted their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. Finally, Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $211.29.

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.