Total Wealth Planning & Management Inc. Takes $2.62 Million Position in AbbVie Inc. (NYSE:ABBV)

Total Wealth Planning & Management Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 14,719 shares of the company's stock, valued at approximately $2,616,000. AbbVie comprises 2.4% of Total Wealth Planning & Management Inc.'s investment portfolio, making the stock its 3rd largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at about $29,000. EnRich Financial Partners LLC boosted its position in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC bought a new stake in AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in AbbVie in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction 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 sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup restated a "neutral" rating and issued a $205.00 price target (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. 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 target price for the company. Bank of America increased their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Morgan Stanley raised their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $210.95.

AbbVie Stock Up 1.3%

AbbVie stock traded up $2.31 during midday trading on Thursday, hitting $185.40. 4,925,815 shares of the company's stock were exchanged, compared to its average volume of 6,251,910. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The firm has a 50-day moving average of $186.76 and a two-hundred day moving average of $186.09. The company has a market cap of $327.49 billion, a PE ratio of 77.25, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $2.31 EPS. As a group, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie 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.