AbbVie Inc. (NYSE:ABBV) Shares Sold by MBE Wealth Management LLC

MBE Wealth Management LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,948 shares of the company’s stock after selling 567 shares during the period. AbbVie accounts for approximately 0.5% of MBE Wealth Management LLC’s holdings, making the stock its 29th biggest position. MBE Wealth Management LLC’s holdings in AbbVie were worth $879,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $28,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $35,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $39,000. Mizuho Securities Co. Ltd. raised its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABBV. Truist Financial dropped their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets cut their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.00.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

ABBV stock opened at $174.88 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $309.04 billion, a price-to-earnings ratio of 60.72, a P/E/G ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm has a 50 day moving average of $176.05 and a two-hundred day moving average of $184.94.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 10.06 EPS 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.