Gerber Kawasaki Wealth & Investment Management Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Gerber Kawasaki Wealth & Investment Management boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,130 shares of the company’s stock after acquiring an additional 92 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in AbbVie were worth $734,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Prosperity Consulting Group LLC grew its holdings in shares of AbbVie by 0.7% in the fourth quarter. Prosperity Consulting Group LLC now owns 26,614 shares of the company’s stock valued at $4,729,000 after purchasing an additional 187 shares in the last quarter. Bolthouse Investments LLC purchased a new position in AbbVie in the 4th quarter valued at approximately $396,000. Johnson Financial Group Inc. grew its stake in shares of AbbVie by 7.8% in the fourth quarter. Johnson Financial Group Inc. now owns 40,889 shares of the company’s stock worth $7,586,000 after acquiring an additional 2,958 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of AbbVie by 5.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 65,228 shares of the company’s stock worth $11,591,000 after acquiring an additional 3,157 shares during the period. Finally, UP Strategic Wealth Investment Advisors LLC boosted its holdings in AbbVie by 23.3% in the fourth quarter. UP Strategic Wealth Investment Advisors LLC now owns 2,851 shares of the company’s stock valued at $507,000 after purchasing an additional 538 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV opened at $185.96 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock’s 50 day moving average is $196.85 and its two-hundred day moving average is $187.18. The firm has a market capitalization of $328.96 billion, a PE ratio of 77.48, a P/E/G ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.05). The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the business earned $2.31 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.53%. AbbVie’s payout ratio is 273.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ABBV shares. Bank of America increased their price target on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Truist Financial lifted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $211.19.

Insider Buying and Selling at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction 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 directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company’s stock.

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.